Copa Holdings Reports Net Income of $608.5 Million in 2024
Copa Holdings, the parent company of airlines Copa Airlines and Wingo, released its financial results for the fourth quarter (4Q24) and the full year 2024 on Wednesday.
Key Financial Figures
- Net income: $166.2 million ($3.99 per share) in 4Q24.
- Annual net income: $608.5 million ($14.56 per share) in 2024.
- Operating income: $204.2 million for the quarter, with an operating margin of 23.3%.
- Annual operating income: $753.4 million, with a margin of 21.9%.
- Capacity (ASMs): Increased by 7.2% in 4Q24 compared to 4Q23.
- Operating cost per available seat mile (Ex-fuel CASM): 5.9 cents, a 2.6% reduction.
- Revenue per available seat mile (RASM): 11.3 cents, a 10.4% decrease.
- Liquidity: $1.4 billion in cash and investments, representing 42% of the last twelve months’ revenue.
- Total debt: $2.0 billion, with a Net Adjusted Debt to EBITDA ratio of 0.5x.
- Share repurchase: $87 million in shares under the $200 million repurchase program, equivalent to 2% of outstanding shares at the end of 2024.
→ Copa Airlines resumes flights to Porto Alegre, Brazil
Fleet Expansion
During the fourth quarter of 2024, Copa Holdings received two Boeing 737 MAX 8 aircraft, ending the year with a consolidated fleet of 112 aircraft:
- 67 Boeing 737-800s
- 32 Boeing 737 MAX 9s
- 9 Boeing 737-700s
- 3 Boeing 737 MAX 8s
- 1 Boeing 737-800 freighter
Punctuality Recognition
In January, Copa Airlines was recognized for the tenth time as the most punctual airline in Latin America in 2024, with an on-time performance of 88.2%. Additionally, it achieved the best punctuality among all airlines in the Americas and the third best globally, solidifying its position as an industry leader.
Copa Holdings’ financial results for 2024 reflect strong operational performance, with capacity expansion, cost improvements, and efficient financial management.
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Un apasionado por la aviación, Fundador y CEO de Aviación al Día.