{"id":126481,"date":"2022-05-12T19:00:00","date_gmt":"2022-05-12T19:00:00","guid":{"rendered":"https:\/?p=126481"},"modified":"2022-05-12T22:07:59","modified_gmt":"2022-05-12T22:07:59","slug":"copa-holdings-reported-financial-results-first-quarter-of-2022","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2022\/05\/copa-holdings-reported-financial-results-first-quarter-of-2022.html","title":{"rendered":"Copa Holdings reported financial results first quarter of 2022"},"content":{"rendered":"\n

Copa Holdings, the parent company of Panama’s Copa Airlines<\/strong>, announced Wednesday its financial results for the first quarter of 2022.<\/p>\n\n\n\n

Holdings reported net income of US$19.8 million for the quarter, compared to net income of US$89.4 million in the first quarter of 2019. Excluding special items, the company would have reported net income of US$29.5 million.<\/p>\n\n\n\n

\u2192 Copa Airlines increased frequencies to C\u00facuta (Colombia).<\/a><\/strong><\/em><\/p>\n\n\n\n

It also reported operating income of US$44.8 million for the quarter and an operating margin of 7.8%, compared to US$112.9 million in the first quarter of 2019.<\/p>\n\n\n\n

Total revenue for the first quarter of the year was US$571.6 million, reaching 85.0% of revenue for the same period in 2019. Passenger revenue was 83.4%, while cargo revenue was 40.6% higher than pre-pandemic levels. Revenue per available seat-mile (RASM) was 10.2 cents, down 3.0% from the first quarter of 2019.<\/p>\n\n\n\n

Operating cost per available seat-mile, excluding fuel (Ex-fuel CASM), decreased 1.6% in the quarter versus 1Q19 to 6.0 cents.<\/p>\n\n\n\n

Capacity for the first quarter of the year, measured in terms of available seat-miles (ASM), was 87.6% of capacity flown in 2019.<\/p>\n\n\n\n

\u2192 Copa Airlines to resume flights to Boston beginning in July.<\/a><\/strong><\/em><\/p>\n\n\n\n

The company closed the quarter with approximately $1.2 billion in cash, short- and long-term investments, representing 65% of trailing twelve-month revenue, and total debt, including lease liabilities, of $1.6 billion.<\/p>\n\n\n\n

Including two new Boeing 737 MAX 9s, three Boeing 737-700s currently in temporary storage and one Boeing 737-800 freighter, Copa Holdings ended the quarter with a consolidated fleet of 93 aircraft – 68 Boeing 737-800s, 16 Boeing 737 MAX 9s and 9 Boeing 737-700s – compared to 102 aircraft prior to the COVID-19 pandemic.<\/p>\n\n\n\n

Copa Airlines had an on-time performance for the quarter of 91.3% and a flight completion factor of 99.3%, once again positioning the airline among the best in the industry.<\/p>\n\n\n\n

During the quarter, the company also announced two new destinations starting in June 2022: Santa Marta in Colombia and Barcelona in Venezuela.<\/p>\n\n\n\n

Thanks to the recovery in demand following the impact of the Covid-19 Omicron variant, and despite rising fuel prices, Copa Holdings reported a profitable quarter.<\/p>\n\n\n\n

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quarter…\n","protected":false},"author":4312,"featured_media":103194,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","footnotes":""},"categories":[1],"tags":[230,261,211,248],"class_list":{"0":"post-126481","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"tag-airline","9":"tag-copa-airlines-2","10":"tag-latin-america","11":"tag-panama-3"},"uagb_featured_image_src":{"full":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-150x150.jpg",150,150,true],"medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-300x150.jpg",300,150,true],"medium_large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-768x384.jpg",768,384,true],"large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"1536x1536":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"2048x2048":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"pk-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-80x80.jpg",80,80,true],"pk-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-300x225.jpg",300,225,true],"csco-small":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-80x80.jpg",80,80,true],"csco-intermediate":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-200x140.jpg",200,140,true],"csco-thumbnail":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-380x220.jpg",380,220,true],"csco-thumbnail-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-300x180.jpg",300,180,true],"csco-thumbnail-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-380x190.jpg",380,190,true],"csco-medium":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"csco-medium-alternative":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9-560x336.jpg",560,336,true],"csco-medium-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"csco-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"csco-large-uncropped":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false],"csco-extra-large":["https:\/\/aviacionaldia.com\/wp-content\/uploads\/2019\/02\/Copa-Airlines-Boeing-737-MAX-9.jpg",800,400,false]},"uagb_author_info":{"display_name":"Dergam Mousa","author_link":"https:\/\/aviacionaldia.com\/en\/author\/dmousa"},"uagb_comment_info":0,"uagb_excerpt":"Copa Holdings, the parent company of Panama’s Copa Airlines, announced Wednesday its financial results for the first 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