Copa Holdings Announces Monthly Traffic Statistics for December 2025

Rhea-AI Summary

Copa Holdings (NYSE: CPA) released preliminary December 2025 traffic statistics showing continued demand recovery. Available seat miles (ASM) rose to 2,932.4 mm, up 10.0% year‑over‑year, while revenue passenger miles (RPM) increased to 2,521.0 mm, up 10.9% year‑over‑year. The system load factor reached 86.0%, a 0.7 percentage‑point improvement versus December 2024. The company cited system capacity and traffic growth across its network serving North, Central and South America and the Caribbean.

These monthly metrics signal stronger passenger throughput in December 2025 compared with the prior year and a modest improvement in seat utilization.

Positive

• RPM +10.9% year‑over‑year in December 2025 (2,521.0 mm)
• ASM +10.0% year‑over‑year in December 2025 (2,932.4 mm)
• Load factor 86.0%, up 0.7 percentage points versus December 2024

Negative

• None.

News Market Reaction

-4.24%

1 alert

-4.24% News Effect

On the day this news was published, CPA declined 4.24%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

ASM December 2025: 2,932.4 mm ASM December 2024: 2,665.5 mm ASM YoY change: 10.0% +5 more

8 metrics

ASM December 2025 2,932.4 mm Available seat miles for December 2025

ASM December 2024 2,665.5 mm Available seat miles for December 2024

ASM YoY change 10.0% December 2025 vs December 2024

RPM December 2025 2,521.0 mm Revenue passenger miles for December 2025

RPM December 2024 2,273.1 mm Revenue passenger miles for December 2024

RPM YoY change 10.9% December 2025 vs December 2024

Load factor December 2025 86.0% System load factor for December 2025

Load factor change 0.7 p.p. Increase vs December 2024 load factor of 85.3%

Market Reality Check

Price: $134.01 Vol: Volume 263,592 is slightl...

normal vol

$134.01 Last Close

Volume Volume 263,592 is slightly above the 20-day average of 246,714 (relative volume 1.07). normal

Technical Price $130.05 is trading above the 200-day MA at $112.27, near the $133 52-week high.

Peers on Argus

CPA was up 0.37% pre-news while key airline peers showed mixed, mostly small mov...

CPA was up 0.37% pre-news while key airline peers showed mixed, mostly small moves (e.g., AAL -1.79%, SKYW -0.95%, ALK +0.10%, LUV -0.23%). This points to a stock-specific backdrop rather than a broad sector move.

Historical Context

5 past events · Latest: Jan 08 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 08	Earnings schedule	Positive	+0.5%	Set timing for 4Q25 earnings release and conference call details.
Dec 16	Monthly traffic update	Positive	+0.2%	Reported November 2025 capacity and demand growth with stable load factor.
Nov 19	Quarterly earnings	Positive	+2.6%	Strong 3Q25 profits, higher margins, solid traffic, and dividend announcement.
Nov 12	Monthly traffic update	Positive	-1.2%	October traffic growth with a slight year-over-year load factor decline.
Oct 13	Monthly traffic update	Positive	+4.3%	September 2025 traffic growth and higher system load factor versus 2024.

Pattern Detected

Traffic updates and earnings news have generally seen modest positive price reactions, with one notable divergence on an October traffic release.

Recent Company History

Over the past four months, Copa has consistently reported traffic growth, with ASMs and RPMs rising versus prior-year months and load factors generally in the mid‑ to high‑80s. September 2025 showed higher utilization, while October saw a slight load‑factor dip. November traffic again improved. A strong 3Q25 earnings report on Nov 19, 2025 featured higher profits and margins and a dividend. An earnings schedule update on Jan 08, 2026 drew a modestly positive reaction, framing today’s December traffic release within a steady growth narrative.

Market Pulse Summary

This announcement highlights continued operational growth for Copa, with December 2025 ASMs up 10.0%...

Analysis

This announcement highlights continued operational growth for Copa, with December 2025 ASMs up 10.0%, RPMs up 10.9%, and load factor at 86.0%, 0.7 percentage points above December 2024. Recent traffic updates have shown similar trends, and a strong 3Q25 earnings report added financial context. Investors may monitor upcoming quarterly results, capacity deployment, and any changes in demand patterns across Copa’s North, Central, and South American routes.

Key Terms

available seat miles, revenue passenger miles, load factor

3 terms

available seat miles technical

"Available seat miles - represents the aircraft seating capacity multiplied by the number"

Available seat miles measure the total capacity of an airline to carry passengers, calculated by multiplying the number of seats available on all flights by the distance those flights cover. It indicates how much space an airline has to generate revenue from passenger travel. For investors, higher available seat miles generally suggest a larger operation and potential for increased earnings.

revenue passenger miles technical

"Revenue passenger miles - represents the number of miles flown by revenue passengers"

Revenue passenger miles measure the total distance traveled by paying passengers on a transportation service, calculated by multiplying the number of paying passengers by the miles they travel. It shows how much revenue-generating activity a transportation company is doing, helping investors assess how well the company is attracting and serving passengers. Higher revenue passenger miles typically indicate stronger demand and better financial performance.

load factor technical

"Load factor - represents the percentage of aircraft seating capacity that is utilized"

Load factor is a measure of how efficiently a transportation service, such as a plane, train, or bus, fills its available seats or space over a period of time. It is calculated by dividing the actual number of passengers or usage by the total available capacity. A higher load factor indicates better utilization, which can lead to more profitable operations and is important for investors assessing the efficiency and profitability of transportation companies.

AI-generated analysis. Not financial advice.

PANAMA CITY, Jan. 13, 2026 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for December 2025:

Copa Holdings (Consolidated)	December 2025	December 2024	% Change
ASM (mm)(1)	2,932.4	2,665.5	10.0 %
RPM (mm)(2)	2,521.0	2,273.1	10.9 %
Load Factor(3)	86.0 %	85.3 %	0.7p.p.

1. Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown.
2. Revenue passenger miles - represents the number of miles flown by revenue passengers
3. Load factor - represents the percentage of aircraft seating capacity that is utilized
   
   

For December 2025, Copa Holdings' capacity (ASMs) increased by 10.0%, while system-wide passenger traffic (RPMs) increased by 10.9% compared to 2025. As a result, the system load factor for the month was 86.0%, 0.7 percentage points higher than in December 2024.

Copa Holdings is a leading Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to countries in North, Central, and South America and the Caribbean. For more information, visit ir.copaair.com.

CPA-G

Investor Relations
investor.relations@copaair.com

FAQ

What were Copa Holdings (CPA) passenger metrics for December 2025?

December 2025: ASM 2,932.4 mm (+10.0% YoY), RPM 2,521.0 mm (+10.9% YoY), load factor 86.0%.

How did Copa Holdings' (CPA) December 2025 RPM compare to December 2024?

System RPM increased by 10.9% in December 2025 versus December 2024.

What does Copa Holdings' (CPA) 86.0% load factor in December 2025 mean for utilization?

An 86.0% load factor means 86% of available seats were filled on average in December 2025, a 0.7 p.p. increase year‑over‑year.

Did Copa Holdings (CPA) expand capacity in December 2025 and by how much?

Yes, available seat miles (ASM) rose by 10.0% in December 2025 versus December 2024.

Where does Copa Holdings (CPA) operate its passenger and cargo services?

Copa operates passenger and cargo services across North, Central and South America and the Caribbean.