The $498 million enhanced equipment trust certificate (EETC) is the largest aircraft bond to have been issued in 2004 and followed on from the airline's debut deal in March.
Morgan Stanley was the sole bookrunner, with HSBC, JP Morgan and Citibank co-managers.
JetBlue 2004-2 offered three tranches, the top two of which were wrapped by MBIA.

JetBlue 2004-2 

Overall Value: $498 million

Three tranches: Class G1 Class G2 Class C 

Pricing Libor +37.5 bp Libor + 45bp Libor + 310bp

Rating AAA/Aaa AAA/Aaa BB+/Ba1

Average Life 7.2 years 12 years 2.7years

Final distribution date August 2016 November 2016 November 2008

Value $177 million $185 million $136 million

Initial loan-to-aircraft value ratio 51.5% 51.5% 69.2%