Section16Direct Section 16, Form 4
Form 4

FORM 4

[ ]Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Files pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940

1. Name and Address of Reporting Person

Thomas Kelly
JetBlue Airways Corporation
118-29 Queens Blvd.
Forest Hills, NY 11375 US

2. Issuer Name and Ticker or Trading Symbol

JetBlue Airways Corporation (JBLU)

6. Relationship of Reporting Person(s) to Issuer

Officer

________________________
Executive Vice President

 3. IRS or Social Security Number of Reporting Person (voluntary)

4. Statement for Month/Day/Year

4/24/2003

7. Individual or Joint/Group Filing

 Form filed by One Reporting Person

5. If Amendment, Date of Original (Month/Day/Yr)

Original Date

N/A
 

Table I-Non-Derivative Securities Acquired,Disposed of, or Beneficially Owned

1. Title of Security2. Transaction Date
(Month/Day/Year)
2A. Deemed
Execution Date
if any
(Month/Day/Year)		 3. Transaction
Code		4. Securities Acquired (A)
or Disposed of (D)		5. Amount of Securities
Beneficially Owned
Following Reported
Transaction(s)		6. Ownership Form:
Direct (D) or
Indirect (I)		7. Nature of Indirect
Beneficial
Ownership
Code
V
Amount
(A) or (D)
Price
Common Stock
4/24/03
4/24/03
S (1)
1,500
D
$30.52
334,966
I
(2)
Common Stock
2,098
D
Table II-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Derivative Security2. Conversion
or Exercise
Price of
Derivative
Security 		3. Transaction
Date
(Month/Day/Year)
3A. Deemed
Execution Date
if any
(Month/Day/Year)		4. Transaction Code5. Number of Derivative
Securities Acquired
(A) or Disposed of (D) 		6. Date Exercisable
and Ex-piration Date
(Month/Day/Year)		7. Title and Amount of
Underlying Securities		8. Price of
Derivative
Security		9. Number of
Derivative
Securities
Beneficially
Owned
Following
Reported
Transaction(s)		10. Ownership
Form of
Derivative
Security:
Direct(D)or
Indirect (I) 		11. Nature
of Indirect
Beneficial
Ownership
Code
V
(A)
(D)
Date
Exercisable		Expiration
Date		TitleAmount or
Number of
Shares
Explanation of Responses
(1) These shares were sold in compliance with a qualified selling plan adopted by the reporting person pursuant to Rule 10b5-1 promulgated under the Securities and Exchange Act of 1934, as amended. (2) These shares are held by Kelly Holdings, L.C. The reporting person is the manager of Kelly Holdings, L.C. and the reporting person disclaims beneficial ownership in these shares except to the extent of his pecuniary interest in such shares. 61,920 of the shares are subject to a right of repurchase in favor of the issuer in the event the reporting person ceases to render services to the issuer. Such right of repurchase lapses with respect to such shares on September 18, 2003.

**Intentional misstatements or omissions of facts constiute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15U.S.C. 78ff(a).

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

 

Signature of Reporting Person: Thomas E. Kelly
Date: 4/25/2003