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

(Print or Type Responses)		   UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF
CHANGES IN BENEFICIAL OWNERSHIP

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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1.   Name and Address of Reporting Person*   2.   Issuer Name and Ticker or Trading Symbol   6.   Relationship of Reporting Person(s) to Issuer
(Check all applicable)
    Kelly   Thomas   E.       JetBlue Airways Corporation (JBLU)                Director            10% Owner
 
           
    (Last)   (First)   (Middle)   3.   I.R.S. Identification Number of Reporting Person, if an entity (voluntary)   4.   Statement for
Month/Day/Year		         X   Officer (give
        title below)		            Other
        (specify below)
    JetBlue Airways Corporation
118-29 Queens Blvd.		               March 20, 2003       Executive Vice President
 
 
     
(Street)           5.   If Amendment, Date of Original (Month/Day/Year)   7.   Individual or Joint/Group Filing
(Check Applicable Line)
    X     Form filed by One Reporting Person
             Form filed by More than One
    Forest Hills   New York   11375                                   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   2A.   Deemed Execution Date, if any   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)
            (Month/Day/Year)   (Month/Day/Year)  
                       
                            Code   V       Amount   (A) or (D)   Price                        
    Common Stock       3/20/03       3/20/03       S(1)           1,500   D   $27.10       342,466       I   (2)    
    Common Stock                                                   2,098       D        
                                                                         
                                                                         
                                                                         
                                                                         

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)
                               
 
                                    Code   V       (A)   (D)       Date
Exercisable		   Expiration Date
                                                                 
                                                                 
                                                                 
                                                                 
                                                                 
                                                                 
                                                                 
                                                                 
                                                                 
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 Securities: Direct (D) or Indirect (I) (Instr. 4)   11.   Nature of Indirect Beneficial Ownership
(Instr. 4)
   
                               
    Title   Amount 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.

    3/20/03
**Signature of Reporting Person		  
Date

Reminder:
 
Report on a separate line for each class of securities beneficially owned directly or indirectly.

*
 
If this 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).

Note:
 
File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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 control number.