Edgar Filing: JETBLUE AIRWAYS CORP

Ownership Submission

FORM 4

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed 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(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

QUANTUM INDUSTRIAL PARTNERS LDC ET AL

2. Issuer Name and Ticker or Trading Symbol
JETBLUE AIRWAYS CORP [JBLU]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	__X__ 10% Owner
_____ Officer (give title below)	_____ Other (specify below)

(Last)

(First)

(Middle)

KAYA FLAMBOYAN 9, WILLEMSTAD, CURACAO

3. Date of Earliest Transaction (Month/Day/Year)
12/08/2004

(Street)

NETHERLANDS ANTILLES,

4. If Amendment, Date Original Filed(Month/Day/Year)

6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

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

1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/08/2004		S		51,348	D	$ 24	11,752,568 ⁽¹⁾	D
Common Stock	12/08/2004		S		800	D	$ 24.0008	11,751,768 ⁽¹⁾	D
Common Stock	12/08/2004		S		3,068	D	$ 24.0011	11,748,700 ⁽¹⁾	D
Common Stock	12/08/2004		S		734	D	$ 24.0027	11,747,966 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,300	D	$ 24.0033	11,746,666 ⁽¹⁾	D
Common Stock	12/08/2004		S		333	D	$ 24.008	11,746,333 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,534	D	$ 24.0087	11,744,799 ⁽¹⁾	D
Common Stock	12/08/2004		S		4,800	D	$ 24.01	11,739,999 ⁽¹⁾	D
Common Stock	12/08/2004		S		934	D	$ 24.0107	11,739,065 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,300	D	$ 24.011	11,737,765 ⁽¹⁾	D
Common Stock	12/08/2004		S		934	D	$ 24.0114	11,736,831 ⁽¹⁾	D
Common Stock	12/08/2004		S		734	D	$ 24.0118	11,736,097 ⁽¹⁾	D
Common Stock	12/08/2004		S		3,334	D	$ 24.0132	11,732,763 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,275	D	$ 24.0144	11,731,488 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,400	D	$ 24.0148	11,730,088 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,467	D	$ 24.015	11,728,621 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,661	D	$ 24.0155	11,726,960 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,467	D	$ 24.0164	11,725,493 ⁽¹⁾	D
Common Stock	12/08/2004		S		873	D	$ 24.0176	11,724,620 ⁽¹⁾	D
Common Stock	12/08/2004		S		2,134	D	$ 24.0184	11,722,486 ⁽¹⁾	D
Common Stock	12/08/2004		S		6,071	D	$ 24.02	11,716,415 ⁽¹⁾	D
Common Stock	12/08/2004		S		426	D	$ 24.0231	11,715,989 ⁽¹⁾	D
Common Stock	12/08/2004		S		667	D	$ 24.024	11,715,322 ⁽¹⁾	D
Common Stock	12/08/2004		S		133	D	$ 24.025	11,715,189 ⁽¹⁾	D
Common Stock	12/08/2004		S		200	D	$ 24.0267	11,714,989 ⁽¹⁾	D
Common Stock	12/08/2004		S		1,334	D	$ 24.03	11,713,655 ⁽¹⁾	D
Common Stock	12/08/2004		S		776	D	$ 24.0369	11,712,879 ⁽¹⁾	D
Common Stock	12/08/2004		S		2,234	D	$ 24.04	11,710,645 ⁽¹⁾	D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code
(Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date
(Month/Day/Year)

7. Title and Amount of Underlying Securities
(Instr. 3 and 4)

8. Price of Derivative Security
(Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)

11. Nature of Indirect Beneficial Ownership
(Instr. 4)

Code

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
QUANTUM INDUSTRIAL PARTNERS LDC ET AL KAYA FLAMBOYAN 9 WILLEMSTAD, CURACAO NETHERLANDS ANTILLES		X
QIH MANAGEMENT INVESTOR LP 888 SEVENTH AVENUE 33RD FLOOR NEW YORK, NY 10106		X
QIH MANAGEMENT LLC 888 SEVENTH AVENUE 33RD FLOOR NEW YORK, NY 10106		X
SOROS FUND MANAGEMENT LLC 888 SEVENTH AVENUE 33RD FLOOR NEW YORK, NY 10106		X

Signatures

John F. Brown, as Attorney-in-Fact for Quantum Industrial Partners LDC		12/10/2004
^**Signature of Reporting Person		Date
John F. Brown, as Assistant General Counsel of Soros Fund Management LLC, which is the Managing Member of QIH Management LLC, which is the General Partner of QIH Management Investor, L.P.		12/10/2004
^**Signature of Reporting Person		Date
John F. Brown, as Assistant General Counsel of Soros Fund Management LLC, which is the Manging Member of QIH Management LLC		12/10/2004
^**Signature of Reporting Person		Date
John F. Brown, as Assistant General Counsel of Soros Fund Management LLC		12/10/2004
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Quantum Industrial Partners LDC is an exempted limited duration company formed under the laws of the Cayman Islands ("QIP"). QIH Management Investor, L.P., an investment advisory firm organized as a Delaware limited partnership ("QIHMI"), is a minority shareholder of, and is vested with investment discretion with respect to portfolio assets held for the account of, QIP. The sole general partner of QIHMI is QIH Management LLC, a Delaware limited liability company ("QIH Management"). Soros Fund Management LLC, a Delaware limited liability company ("SFM"), is the sole managing member of QIH Management.
Remarks: The filing of this statement shall not be deemed an admission that any of the Reporting Persons is the beneficial owner of any securities not held directly for its account for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise.

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