Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF 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 *
  Urbahn Trey
2. Date of Event Requiring Statement (Month/Day/Year)
11/15/2006
3. Issuer Name and Ticker or Trading Symbol
JETBLUE AIRWAYS CORP [JBLU]
(Last)
(First)
(Middle)
JETBLUE AIRWAYS CORPORATION, 118-29 QUEENS BOULEVARD
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP and Chief Revenue Officer
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

FOREST HILLS, NY 11375
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 Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Purchase) (1) 11/15/2006(2) 11/15/2016 Common Stock 27,000 $ 15.265 D  
Stock Option (Right to Purchase) (1) 11/15/2006(2) 11/15/2016 Common Stock 20,000 $ 15.265 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Urbahn Trey
JETBLUE AIRWAYS CORPORATION
118-29 QUEENS BOULEVARD
FOREST HILLS, NY 11375
      EVP and Chief Revenue Officer  

Signatures

Trey Urbahn 11/21/2006
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(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) The option was granted under the 2002 Stock Incentive Plan of the issuer.
(2) The shares subject to the option will vest in equal annual installments over a three year period measured from the vesting commencement date of November 15, 2006.

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 number.