Copa Holding Profits Down 49%

Copa’s net income for the first quarter of 2010 was $36.7 million, 49% less than the same period of 2010.

Thursday, May 6, 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. The results compared to a net profit of $71.6 million, in the same period a year earlier.

“The weaker results were in part due to a $19.8 million charge related to the devaluation of the Venezuelan currency in the first quarter and a noncash charge associated with the mark-to-market of fuel hedge contracts. Copa said it was also hit by a stronger Colombian currency, increased maintenance charges and expenses related to additional capacity to support growth in the second half of this year”, reported Reuters.

More on this topic

Copa's Passenger Traffic Up 18.9%

September 2013

Between January and August this year, the Panamanian airline transported 9.6 million passengers, an increase of 18.9% compared to the same period in 2012. reports: "The subsidiary of Copa Holdings reported an occupancy factor of 76.8% through August, exceeding the 75.6% reported for the same date in 2012."

Copa Airlines Carries 20% More Passengers

June 2013

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%.

Prosperity of the Region's Air Industry

November 2012

In the third quarter of 2012 Copa Airlines earned $112 million in revenues, 24.5% more than in the same period last year.

These figures are better than its competitor in the region, Avianca-Taca, whose profits for the third quarter were $56 million.

A statement of Copa Holdings:

Copa Profits Down 66% in Second Quarter

August 2010

In the second quarter of 2010, Copa Airlines recorded net income of $18.6 million, 66% less than in the same period of 2009 when it was $55.2 million.

The company's total revenue increased 9.3% to $303 million and its capacity was also up 5%. However, its performance per passenger mile fell 2.5% to $0.152, largely due to lower prices in Venezuela and Colombia.

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