Southwest Airlines (LUV) share🐻s ro♛se Thursday morning after the airline became the latest to improve its revenue outlook, citing strong demand for travel heading into the holiday season.

The airline now expects its total capacity of available seating to decline 4% year-over-year in the fourth quarter as it undertakes "tactical actions" like "improving network optimization and capacity rationalization."

Southwest 'Encouraged' Ahead of Holiday Travel Season

On that 澳洲幸运5官方开奖结果体彩网:smaller flight schedule, however, Southwest expe💖cts revenue per available seat mile (RASM) to increase between 5.ꦰ5% to 7% year-over-year, up from the previous projection of 3.5% to 5.5% growth. The company said it expects higher revenue growth than it did before because of "better than expected leisure travel demand and faster than expected benefits from actions taken to mature the Company's revenue management techniques."

Southwest said it is "encouraged by recent revenue trends" and booking data around the upcoming holiday season, and expects the trends to continue into next year.

After the airline completes the $250 million st🍷ock buyback program announced in October, it plans to start an accelerated $750 million buyback program in the first quarter of 2025, with $1.5 billion remaining from the $2.5 billion plan announced in September.

Outlook Bump Follows JetBlue's Similar Shift, Pressure From Activist Investor

The updated guidance comes a 澳洲幸运5官方开奖结果体彩网:day after rival JetBlue (JBLU) lifted its own outl💝ook, saying it had seen an increase in d𝓰emand for travel following last month's presidential election.

It also comes after Southwest has recently announced a number of new measures aimed at driving more revenue 澳洲幸运5官方开奖结果体彩网:like abandoning its famous open seating policy, following 澳洲幸运5官方开奖结果体彩网:months of pressure from 澳洲幸运5官方开奖结果体彩网:activist investor Elliott Investment Management. The firm 澳洲幸运5官方开奖结果体彩网:pushed for changes at the executive level as it 澳洲幸运5官方开奖结果体彩网:said Southwest should be doing more to drive revenue, and won a number of seats on Southwest's board in a 澳洲幸运5官方开奖结果体彩网:settlement announced in October.

Southwest shares were up 4% around noon Thursday, more than 20% above where the💜y started the year.