(Reuters) – Delta Air Lines said on Tuesday it expects full-year profit per share at the high-end of its prior forecast on sustained travel demand.

Shares rose about 1% in premarket trading as the Atlanta-based carrier also lifted its expectation for annual free cash flow ahead of its investor day.

Some analysts expect the airline to offer more details of its plan to grow its loyalty credit card, jet maintenance and repair businesses during the event.

The company has forecast an adjusted profit of $5 to $6 per share for 2023. But with no let-up in travel demand, mainly for overseas trips and a moderation in fuel costs, analysts have revised upwards Delta’s profit estimates.

While rising interest rates, high inflation and mounting job losses have slowed down parts of the U.S. economy, pent-up travel demand as well as constrained airline capacity due to shortages of aircraft and labor have underpinned ticket sales.

“Structural impediments to industry capacity and resilient demand point to better revenue this year,” said Daniel McKenzie, an analyst at Seaport Research Partners.

Boosting the outlook, jet fuel costs in North America are down about 30% from a year ago.

In a sign of growing confidence in its ability to generate free cash flow, Delta this month reinstated its quarterly dividend, which it had suspended in March 2020 during the pandemic.

The company raised its free cash flow outlook for 2023 to $3 billion compared to more than $2 billion that it had forecast earlier.

Citi analyst Stephen Trent expects Delta’s updated earnings guidance to be a catalyst for strong gains in its shares over the next 30 days. The airline’s shares are up about 31% this year.