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 *
SOROS GEORGE
  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)
888 SEVENTH AVENUE, 33RD FLOOR
3. Date of Earliest Transaction (Month/Day/Year)
12/08/2004
(Street)

NEW YORK, NY 10106
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ 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)
Code V Amount (A) or (D) Price
Common Stock 12/08/2004   S   2,400 D $ 24.18 17,512,829 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   800 D $ 24.19 17,512,029 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   33,800 D $ 24.2 17,478,229 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   5,800 D $ 24.2005 17,472,429 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   1,600 D $ 24.2069 17,470,829 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   1,200 D $ 24.21 17,469,629 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   1,628 D $ 24.2132 17,468,001 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   3,300 D $ 24.22 17,464,701 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   188 D $ 24.23 17,464,513 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   1,800 D $ 24.27 17,462,713 I See Footnotes (1) (2) (3) (4)
Common Stock 12/08/2004   S   2,900 D $ 24.3117 17,459,813 (5) I See Footnotes (1) (2) (3) (4)

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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 V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SOROS GEORGE
888 SEVENTH AVENUE
33RD FLOOR
NEW YORK, NY 10106
    X    

Signatures

 John F. Brown, as Attorney-in-Fact for Mr. George Soros   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) Each of the transactions in the Issuer's common shares, $0.01 par value per share ("Common Stock"), reported herein was effected in the form of a single trade or a group of trades at the same sale price, portions of which were allocated among the accounts of QIP, SFMD and OSI (each as defined below).
(2) Of each trade, approximately 66.69% of the amount of Common Stock reported herein was allocated to the account of Quantum Industrial Partners LDC, 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. The Reporting Person is the Chairman of SFM and, in such capacity, may be deemed to have voting and dispositive power over securities held for the account of QIP.
(3) Of each trade, approximately 10.61% of the amount of Common Stock reported herein was allocated to the account of SFM Domestic Investments LLC , a Delaware limited liability company ("SFMD"). The Reporting Person is the sole managing member of SFMD and, in such capacity, may be deemed to have voting and dispositive power over securities held for the account of SFMD.
(4) Of each trade, approximately 22.70% of the amount of Common Stock reported herein was allocated to the account of Open Society Institute ("OSI"), a New York Trust. The Reporting Person serves as a trustee of OSI.
(5) Of the 17,459,813 shares of Common Stock reported herein, (i) 11,643,269 shares of Common Stock are held for the account of QIP, (ii) 1,853,048 shares of Common Stock are held for the account of SFMD and (iii) 3,963,496 shares of Common Stock are held for the account of OSI.
 
Remarks:
The filing of this statement shall not be deemed an admission that the Reporting Person is the beneficial owner of any securities not held directly for his account for purposes of Section 16 of the Securities Act of 1934, as amended, or otherwise.

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