JetBlue

(JBLU) - Get Report

said its second-quarter operating margin will exceed its earlier guidance, but its passenger unit revenue estimate was revised lower.

Shares of JetBlue rose 2.7% to $11.12 on Wednesday. The Amex Airlines Index was up 1.9%.

In a filing with the

Securities and Exchange Commission

, the carrier forecast its margin would be 9% to 11% in the second quarter, up from an earlier outlook of 8% to 10%. JetBlue's full-year margin was pegged at 5% to 7%, unchanged from earlier projections.

Additionally, JetBlue said its passenger revenue per available seat mile (RASM) would increase 5% to 7% in the second quarter, down from the 6% to 8% growth expected earlier. On the expense side, cost per available seat mile (CASM), excluding fuel, should grow 3% to 5% in the quarter and 6% to 8% for the year.

Both RASM and CASM figures reflect the impact of removing a row of seats from each of the airline's A320 jets, which was completed in early February. The move reduces capacity on each aircraft, so that revenue and costs are spread over fewer seat miles, and also cuts expenses by lowering flight attendant staffing levels on the planes.

JetBlue has hedged 65% of its fuel needs for the second quarter.