Southwest Airlines (LUV) said Tuesday it now expects Q1 operating revenue per available seat mile to grow 2% to 4%, compared with its previous growth forecast of 5% to 7%.

Available seat miles, or capacity, are now expected to drop by around 2% in Q1, compared with prior estimate of a decline of 2% to 3%.

For Q2, the airline said it continues to expect capacity to increase by 1% to 2% year over year.

Southwest Airlines shares were up 7% in recent premarket activity.