From December 1 the new airline Wingo will be operating low cost regional flights.
A subsidiary of Copa Holdings, Wingo, has announced the start of operations and will start with flights on December 1, offering a daily frequency to Panama on Mondays, Thursdays, Fridays, Saturdays and Sundays, and from Guatemala, one daily on Mondays, Thursdays and Saturdays, according to information posted on its website.
In the first five months of 2013, the airline carried 5.8 million passengers, representing an increase of 20% compared with the same period last year.
If the trend continues, the company will exceed its estimated 11 million passengers scheduled for this 2013. Copa Holdings, owner of the shares of the Panamanian airline Copa Airlines reported that its transport capacity has increased by 19%.
In the first three months of 2013, the airline Copa Airlines carried 3.5 million passengers, 19.5% more than in the same period of 2012.
"International passenger traffic rose by 20.9%, while the operation of Copa AirlinesColombia, which performs internal flights in the neighboring country, fell by 9.2%.This year the company plans to mobilize a total of 11 million people ", reported Prensa.com.
Copa’s net income for the first quarter of 2010 was $36.7 million, 49% less than the same period of 2010.
Copa Holdings S.A., the parent of Panama-based Copa Airlines and Colombia-based Aero República, said its first-quarter net income fell 49 percent to $36.7 million, hit by currency charges and higher fuel costs.
In 70% of its routes, COPA has no competition. The Panamanian airline flies to destinations not covered by the major regional airlines such as TAM and LAN.
The company prefers to fly to destinations that are not too popular, where the passengers waiting to board are not many more than 50. And while the airline industry in general is suffering from the effects of the crisis and the balance sheets of the airlines are registering losses or marginal profits in the best case, COPA had operating margins of 17.4% in 2008.
Copa Holdings S.A., a holding company of Copa Airlines y Aero República, gained $51.9 in the fourth quarter of 2008, 46.1% more than the same period of 2007.
The operating revenue of the business, which lists in the New York Stock Exchange under the ticker CPA, were $84 million -an increase of 95.5% in comparison with $43 million obtained in the last quarter of 2007.
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