JetBlue in Public Offerings of Convertible Debentures and Common Stock

Cleary Gottlieb advised the underwriters, led by Morgan Stanley & Co. Incorporated, in a registered public offering by JetBlue Airways Corporation of $201,250,000 aggregate principal amount of 6.75% convertible debentures due 2039, divided into two series. Cleary Gottlieb also advised the underwriter of a concurrent registered public offering of 26,450,000 shares of JetBlue common stock. The debenture offering and the common stock offering, including full exercise of the related over-allotment options for both offerings, closed simultaneously on June 9.

JetBlue is a passenger airline that provides award-winning customer service at low fares primarily on point-to-point routes. For the year ended December 31, 2008, JetBlue was the 7th largest passenger carrier in the United States based on revenue passenger miles.