.September 5, 2024 04:36:00 PM

JetBlue Airways (NASDAQ:JBLU) saw a 7% increase in shares after raising its Q3 2024 revenue outlook due to a strong summer travel season and improved operational efficiency. The airline credited better bookings, especially in Latin America, and $300 million in revenue initiatives for the upward revision. Q3 revenue is now expected to range between a 2.5% decline and a 1.0% increase year-over-year, an improvement from the previous forecast of a 5.5% to 1.5% decline. Fuel prices and cost-control efforts led to a reduction in non-fuel unit costs, with a lowered fuel price forecast of $2.70-$2.80 per gallon. In August, JetBlue completed significant financing deals, issuing $2 billion in senior secured notes and a $765 million term loan, prompting a raise in the full-year interest expense forecast to $370-$380 million.