AAirlines

Copa raises its income to $693.4 million in second quarter

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Copa Holdings, parent company of Copa Airlines, reported this Wednesday total revenues of $693.4 million in the second quarter of 2022, an increase of 7.5% compared to the same quarter of 2019.

Adjusted net income increased to $13.2 million, after a loss of $16.2 million in the same quarter of 2021 and a profit of $51 million in 2019.

→ Copa Airlines resumed flights to Boston.

Including special items of $110.9 million, comprised of an unrealized mark-to-market gain related to the company’s convertible notes and an unrealized mark-to-market loss related to changes in the value of financial investments, Copa reported a profit net of $124.1 million for the quarter.

Expenses during the second quarter also increased nearly 16% to $651 million.

The company ended the quarter with approximately $1.1 billion in cash, short-term and long-term investments, representing 47% of revenues for the last twelve months, and total debt, including lease liabilities, of $1.6 billion.

→ Copa Airlines’ Panorama of the Americas magazine returns in printed version.

The airline operated at nearly 97% capacity in the second quarter of 2019, measured in available seat miles (ASM) during the period. That is nearly 10 percentage points higher than during the first quarter of 2022.

Copa Airlines received a Boeing 737 MAX 9 during the second quarter and at the end of June the airline’s fleet was made up of 94 aircraft: 68 737-800s, 17 737 Max 9s and nine 737-700s.

Plataforma Informativa de Aviación Comercial líder en América Latina.

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