JetBlue Airways expects strong demand for flights this summer to strongly reflect on its revenue in the third quarter, according to a recent regulatory filing.
The company lifted its prediction for Q3 revenue on Thursday and now forecasts between a 2.5% decline to a 1% increase on a year-over-year basis. It was previously expected that there would be a fall between 5.5% and 1.5%.
Aside from a surge in ticket sales, especially in the Latin America region, JetBlue also expects to benefit from the $300 million in revenue initiatives it previously put in place.
Additionally, JetBlue said its ability to re-accommodate passengers affected by July’s global IT outage and improvement in provided service also played a part in a successful Q3, which concludes with September.
The IT outage, caused by a faulty software update from cybersecurity firm Crowdstrike, resulted in more than 5,000 flights being delayed or canceled across the nation. JetBlue, which avoided being disrupted by the outage, was able to step in and offer affected passengers an alternative.
After the Q3 revenue forecast lift, JetBlue’s stock surged more than 4% in pre-market trading. At their most recent close price of $5.03, the company’s shares are 33% down from their 2024 peak in April. They also remain 4.55% down year-to-date.