:max_bytes(150000):strip_icc()/GettyImages-2168457510-e1ffc7ec66ee4119b50583d5f7ff8320.jpg "JetBlue Stock Soars On Raised Revenue Guidance")
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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%.