Key Takeaways
- JetBlue says its third-quarter revenue could grow as much as 1% year-over-year.
- The airline attributed the upgrade to increased bookings and improved operational performance this summer.
- Last month, JetBlue said it planned to raise more than $3 million in debt financing.
JetBlue Airways ( JBLU ) shares rallied Thursday after the company raised its third-quarter revenue guidance.
The airline in a regulatory filing said revenue could grow as much as 1% year-over-year thanks to improved operational performance this summer and increased bookings. It also noted an uptick in revenue due to customers needing to book new flights following the global CrowdStrike ( CRWD ) outage in July.
The company increased its revenue projection to between a 2.5% loss and a 1% gain, up from a loss of 1.5% to 5.5%.
Shares of JetBlue jumped nearly 8% on Thursday, and they’re up for the year so far. Still, they’re yet to recover fully from when the company last month said it would raise over $3 billion in debt and was hit with credit downgrades.
An exchange-traded fund that includes airline shares, the US Global Jets ETF ( JETS ), was recently up more than 1%.