{"id":169583,"date":"2024-11-21T13:00:25","date_gmt":"2024-11-21T13:00:25","guid":{"rendered":"https:\/?p=169583"},"modified":"2024-11-21T16:05:55","modified_gmt":"2024-11-21T16:05:55","slug":"copa-holdings-reported-net-income-of-us146-million-in-third-quarter-of-2024","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2024\/11\/copa-holdings-reported-net-income-of-us146-million-in-third-quarter-of-2024.html","title":{"rendered":"Copa Holdings reported net income of US$146 million in third quarter of 2024"},"content":{"rendered":"\n

Copa Holdings<\/strong>, parent company of Copa Airlines and Wingo, released its third quarter 2024 (3Q24) financial results on Wednesday.<\/p>\n\n\n\n

The company reported net income of US$146.0 million for 3Q24, a decrease of US$28.4 million compared to the same period of 2023, and recorded operating income of US$173.7 million and an operating margin of 20.3%, a decrease of US$31.3 million and 3.3 percentage points, respectively, compared to 3Q23.<\/p>\n\n\n\n

Consolidated capacity, measured in available seat miles (MBA), increased 9.5% in the quarter compared to 3Q23.<\/p>\n\n\n\n

Passenger traffic for the quarter, measured in terms of passenger miles per passenger (RPM), increased 7.6% compared to the same period in 2023.<\/p>\n\n\n\n

In 3Q24, the company recorded a load factor of 86.2%, a decrease of 1.6 percentage points compared to 3Q23.<\/p>\n\n\n\n

\u2192 Copa Airlines to temporarily suspend 4 routes starting in January<\/a><\/em><\/strong><\/p>\n\n\n\n

Operating cost per available non-fuel seat mile (Ex-fuel CASM) decreased by 1.6% in the quarter, to 5.7 cents, compared to the third quarter of 2023.<\/p>\n\n\n\n

Revenue per available seat mile (RASM) decreased 10.1% to 11.0 cents compared to 3Q23, driven by an 8.7% decline in passenger yield and a 1.6 percentage point decline in occupancy factor.<\/p>\n\n\n\n

The company closed the quarter with approximately US$1.3 billion in cash, short- and long-term investments, representing 36% of revenues for the last twelve months.<\/p>\n\n\n\n

Copa Holdings closed the quarter with total debt, including capital lease liabilities, of US$1.9 billion, while the adjusted net debt to EBITDA ratio stood at 0.6 times.<\/p>\n\n\n\n

During the quarter, the company took delivery of its first Boeing 737 MAX 8, ending the period with a fleet of 110 aircraft: 67 Boeing 737-800s, 32 Boeing 737 MAX 9s, 9 Boeing 737-700s, 1 Boeing 737 MAX 8 and 1 Boeing 737-800 freighter.<\/p>\n\n\n\n

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