New York, December 13, 2007—Shearman & Sterling represented JetBlue Airways Corporation in its sale of 42 million shares, a 19 percent stake of the company, to Deutsche Lufthansa AG. The deal represents the first significant investment by a European air carrier in a U.S. point-to-point carrier.

Lufthansa is acquiring the shares at a price of $7.27 per share, or a total of approximately $300 million, representing approximately a 16% premium to the closing price of $6.25 on December 12, 2007.

Shearman & Sterling attorneys included partners Peter Lyons (NY-MA), Dale Collins (NY-AT), Joel Klaperman (NY-CM), Doreen Lilienfeld, (NY-ECEB),Tom Wilner (WA-TX), Don Lonczak (NY-TX) and associates Dan Litowitz (NY-MA), Clarence Nesbitt (NY-MA), Amy Kalil (NY-MA), Kelly Karapetyan (NY-TX), Kristen Duke-Richardet (NY-AT), Vanessa Franklin (NY-ECEB), Christopher Le Mon (WA-LT) and Michael Sunwoo (NY-TX).

For additional information contact:
Ron Brandsdorfer | New York | T +1.212.848.5081 |