Copa Holdings Announces Monthly Traffic Statistics for December 2025

Copa Holdings (NYSE: CPA) released preliminary December 2025 traffic statistics showing continued demand recovery.

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.

Argus Jan 14 session

-4.24% close to close Open Argus

Details

News Market Reaction – CPA

In the Jan 14 session, CPA declined 4.24%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

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 Figures

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

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%

Historical Context

5 past events · Latest: Jan 08

5 events

1. Jan 08

   Earnings schedule

   24h Move

   +0.5%

   Set timing for 4Q25 earnings release and conference call details.

2. Dec 16

   Monthly traffic update

   24h Move

   +0.2%

   Reported November 2025 capacity and demand growth with stable load factor.

3. Nov 19

   Quarterly earnings

   24h Move

   +2.6%

   Strong 3Q25 profits, higher margins, solid traffic, and dividend announcement.

4. Nov 12

   Monthly traffic update

   24h Move

   -1.2%

   October traffic growth with a slight year-over-year load factor decline.

5. Oct 13

   Monthly traffic update

   24h Move

   +4.3%

   September 2025 traffic growth and higher system load factor versus 2024.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

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. How Rhea-AI works. Not financial advice.

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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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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.