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CASE 3 • JETBLUE AIRWAYS CORPORATION — 2009 35

EXHIBIT 9 Direct Competitor Comparison (April 2009)
JBLU AMR LUV UAUA Industry
Market Cap 1.35B 1.31B 5.09B 791.37M 646.77M
Employees 8,902 84,100 35,499 50,000 4.52K
Qtrly Rev Growth 9.70% -3.80% 9.70% -9.60% 13.10%
Revenue 3.39B 23.77B 11.02B 20.19B 1.48B
Gross Margin 26.18% 19.15% 22.07% 4.88% 22.07%
EBITDA 304.00M 531.00M 1.05B -813.00M 90.07M
Oper Margins (ttm) 2.77% -2.84% 4.07% -8.47% 8.37%
Net Income -76.00M -2.07B 178.00M -5.35B N/A
EPS -0.336 -7.996 0.241 -42.200 N/A
P/E N/A N/A 28.55 N/A 9.45

AMR = AMR Corp
LUV = Southwest Airlines Inc
UAUA = UAL Corp
Industry = Regional Airlines
Source: http://finance.yahoo.com.

EXHIBIT 10 Airlines Ranked by Revenue Passenger Miles (April 2009)

Company Symbol Price Change Market Cap
AMR Corporation AMR 4.70 -13.28% 1.31B
UAL Corporation UAUA 5.50 -14.33% 791.37M
Delta Air Lines Inc. DAL 6.75 -14.34% 4.71B
Northwest Airlines Corporation Private -BAIRY.PK 21.99 -7.33% N/A
Southwest Airlines Co. LUV 6.88 -9.35% 5.09B
Continental Airlines, Inc. CAL 11.08 -16.38% 1.37B

M = Millions
B = Billions
Source:http://finance.yahoo.com.

EXHIBIT 11 JetBlue vs. Industry Leaders (April 2009)
JBLU’s
Statistic Industry Leader JBLU Rank
Market Capitalization LUV 5.09B 1.35B 3/17
P/E Ratio LUV 28.55 N/A N/A
PEG Ratio LUV 1.50 0.82 3/17
Revenue Growth CPA 21.60% 9.70% 7/17
EPS Growth ALGT 288.10% N/A N/A
Long-Term Growth Rate (5 yr) AAI 30% 13% 10/17
Return on Equity BLTA.OB 54.41% -6.62% 11/17
Long-Term Debt/Equity N/A
Dividend Yield LFL 13.20% N/A N/A

Source: http://finance.yahoo.com.