JetBlue Airways (NASDAQ:JBLU) shares climbed more than 7% on Thursday after the airline raised its Q3 2024 revenue outlook, driven by a strong summer travel season and improved operational efficiency.

The airline credited better-than-expected bookings, especially in Latin America, and its $300 million revenue initiatives for the upward revision. JetBlue also benefited from accommodating passengers affected by other airlines’ July technology outages.

The airline now anticipates Q3 revenue to range between a 2.5% decline and a 1.0% increase year-over-year, improving from the previous forecast of a 5.5% to 1.5% decline.

On the cost side, moderating fuel prices and cost-control efforts led to an improvement in non-fuel unit costs. JetBlue reduced its fuel price forecast to $2.70-$2.80 per gallon, down from $2.82-$2.97.

The company also completed significant financing deals in August, issuing $2 billion in senior secured notes and a $765 million term loan, which prompted it to raise its full-year interest expense forecast to $370-$380 million, up from the previous $320-$330 million estimate.