As previously announced by JetBlue Airways Corporation (the “Company”), on December 7, 2016, the Board of Directors of the Company approved certain changes to our previously announced share buyback program which authorizes the Company to repurchase up to $500 million worth of shares from January 1, 2016 through December 31, 2019.

On April 27, 2017, the Company entered into an agreement (the “ASR Agreement”) with Goldman, Sachs & Co. (“GS&Co.”), to implement an accelerated share repurchase program (the “ASR Program”). Under the ASR Agreement, on April 28, 2017, the Company will pay $150 million to GS&Co. and will initially receive approximately 5.4 million shares based on the closing share price on April 27, 2017. The total number of shares to ultimately be purchased by the Company to the ASR Program will generally be based on the average of the daily Rule 10b-18 volume weighted average prices of the Company’s common stock during the term of the ASR Program, less a discount.

Upon final settlement of the ASR Agreement, the Company may be entitled to receive additional shares of the Company’s common stock from GS&Co. or, under certain circumstances specified in the ASR Agreement, the Company may be required to deliver shares or make a cash payment, at its option, to GS&Co. The ASR Program is expected to be completed by the end of the third quarter of 2017 and will be funded with cash on hand. After executing this ASR Program, the Company will have approximately $130 million of repurchase authority remaining.

The information contained in this Item 7.01 shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

About JETBLUE AIRWAYS CORPORATION (NASDAQ:JBLU)

JetBlue Airways Corporation is a passenger carrier company. The Company provides air transportation services across the United States, the Caribbean and Latin America. It operates various types of aircrafts, including Airbus A321, Airbus A320 and Embraer E190. It also provides premium transcontinental product called Mint. Mint includes approximately 20 fully lie-flat seats, over four of which are in suites with a privacy door. The Company has installed Fly-Fi in-flight Internet service across its Airbus fleet. The Company provides three branded fares: Blue, Blue Plus and Blue Flex. Each of these fares includes different offerings, such as free checked bags, reduced change fees and additional TrueBlue points. The Company also accepts Apple Pay in-flight, which enables the iPhone users to use their phones for all onboard purchases. Its Airbus A321 aircraft in a single cabin layout has approximately 190 seats and those with Mint offering have over 160 seats.

JETBLUE AIRWAYS CORPORATION (NASDAQ:JBLU) Recent Trading Information

JETBLUE AIRWAYS CORPORATION (NASDAQ:JBLU) closed its last trading session down -0.11 at 22.14 with 9,280,807 shares trading hands.