{"id":136774,"date":"2023-02-16T21:00:07","date_gmt":"2023-02-16T21:00:07","guid":{"rendered":"https:\/?p=136774"},"modified":"2023-02-17T00:26:39","modified_gmt":"2023-02-17T00:26:39","slug":"copa-holdings-reports-earnings-of-us348-1-million-in-2022","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2023\/02\/copa-holdings-reports-earnings-of-us348-1-million-in-2022.html","title":{"rendered":"Copa Holdings reports earnings of US$348.1 million in 2022"},"content":{"rendered":"\n

Copa Holdings<\/strong>, parent company of Copa Airlines, announced Wednesday its financial and operating results for the fourth quarter (4Q22) and full year 2022.<\/p>\n\n\n\n

The company reported a net profit of US$88.3 million for 4Q22, mainly due to the continued effect of high fuel prices, as well as the negative effect of the mark-to-market valuation of the company’s convertible bonds. Excluding special items, the company would have recorded a net profit of US$177.7 million.<\/p>\n\n\n\n

\u2192 Copa Airlines announces new routes to Baltimore (U.S.) and Manta (Ecuador)<\/a><\/em><\/strong><\/p>\n\n\n\n

In 4Q22, it reported a profit of US$219.7 million and an operating margin of 24.7%.<\/p>\n\n\n\n

Total revenues for 4Q22 increased 30.6% to US$890.6 million, compared to revenues in 4Q19. Yields increased 20.4% and revenue per available seat mile (RASM) increased 23.4%.<\/p>\n\n\n\n

Passenger traffic, measured in terms of revenue passenger miles (RPMs), increased by 7.5% compared to 4Q19, while capacity (ASMs) increased by 5.9%.<\/p>\n\n\n\n

Copa Holdings closed the fourth quarter with approximately $1.1 billion in cash, short- and long-term investments, representing 38.3% of trailing twelve-month revenues, up from $1.2 billion in 2021, and total debt, including lease liabilities, of $1.7 billion, up from $1.6 billion at the end of 2021.<\/p>\n\n\n\n

\u2192 Copa Airlines Announces New Route to Austin, Texas<\/a><\/em><\/strong><\/p>\n\n\n\n

During the last quarter, the company took delivery of two Boeing 737 MAX 9 aircraft, ending the year with a consolidated fleet of 97 aircraft – 67 Boeing 737-800s, 20 Boeing 737 MAX 9s, 9 Boeing 737-700s and 1 Boeing 737-800 freighter.<\/p>\n\n\n\n

Copa Airlines had an on-time performance for the fourth quarter of 86.1% and a flight completion factor of 99.6%.<\/p>\n\n\n\n

For the full year 2022, the company earned a net profit of $348.1 million. Excluding special items, Copa Holdings would have reported adjusted net income of US$335.4 million, compared with US$336.3 million in 2019.<\/p>\n\n\n\n

In 2022, it reported a profit of US$450.4 million and an operating margin of 15.2%, compared to US$435.5 million and 16.1% in 2019.<\/p>\n\n\n\n

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