Copa Holdings (NYSE: CPA) released preliminary February 2026 traffic statistics showing capacity and traffic expansion. Available seat miles (ASM) rose 15.6% year-over-year to 2,761.8 million; revenue passenger miles (RPM) rose 16.2% to 2,406.9 million. The system load factor was 87.1%, up 0.4 percentage points versus February 2025.
These figures indicate higher capacity deployment alongside stronger passenger demand across Copa's network in the Americas and the Caribbean.
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Positive
ASM +15.6% year-over-year to 2,761.8 million
RPM +16.2% year-over-year to 2,406.9 million
System load factor 87.1%, up 0.4 percentage points
Negative
None.
News Market Reaction – CPA
+3.30%
+3.30%Session close to close
In the Mar 16 session, CPA gained 3.30%, reflecting a moderate positive market reaction.
This announcement highlights robust demand momentum, with February 2026 ASMs up 15.6%, RPMs up 16.2%...
Analysis
This announcement highlights robust demand momentum, with February 2026 ASMs up 15.6%, RPMs up 16.2%, and load factor improving to 87.1% versus the prior year. Combined with recent strong 4Q25 and full‑year 2025 results, the data reinforce a trend of fuller planes and expanding capacity. Investors may focus on whether this pace of traffic growth persists across future months and how it interacts with cost trends, fleet expansion, and broader macro conditions for Latin American air travel.
Key Figures
Current share price:$110.38Available seat miles:2,761.8 mmRevenue passenger miles:2,406.9 mm+5 more
8 metrics
Current share price$110.38Pre-news close for CPA
Available seat miles2,761.8 mmASM for February 2026
Revenue passenger miles2,406.9 mmRPM for February 2026
ASM growth15.6%Year-over-year change vs February 2025
RPM growth16.2%Year-over-year change vs February 2025
Load factor87.1%System load factor for February 2026
Load factor change0.4 p.p.Year-over-year increase vs February 2025
Distance from 52-week high-29.43%CPA vs 52-week high of $156.41
Announced timing and webcast details for 4Q25 earnings release and call.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent news, including positive traffic and earnings updates, has often been followed by flat to negative 1-day price moves, signaling a pattern of muted or contrarian reactions to fundamentally constructive data.
Recent Company History
Over the last few months, Copa has reported steadily improving operating and financial metrics. December 2025, January 2026, and now February 2026 traffic releases all showed double‑digit ASM and RPM growth with higher load factors. The company also delivered strong 4Q25 and full‑year 2025 profitability and filed its 20‑F on Feb 26, 2026. Despite this, 1‑day price reactions to traffic and earnings news (including the dividend announcement) have mostly been slightly negative, framing today’s positive traffic update against a backdrop of cautious trading responses.
Key Terms
available seat miles, revenue passenger miles, rpm, load factor
4 terms
available seat milestechnical
"Available seat miles - represents the aircraft seating capacity multiplied by..."
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 milestechnical
"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.
rpmtechnical
"RPM (mm) (2) | 2,406.9 | | 2,072.0 | | 16.2 | %"
Remote Patient Monitoring (RPM) is the use of digital tools to collect health data from patients outside a clinic—such as blood pressure, glucose, or weight—and send it to clinicians for ongoing review. For investors, RPM signals a shift toward continuous, outpatient care that can create steady, recurring revenue, reduce hospital visits, and attract reimbursement from payers; adoption rates and regulatory support influence the growth and profitability of companies offering RPM solutions.
load factortechnical
"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.
PANAMA CITY, March 16, 2026 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for February 2026:
Copa Holdings (Consolidated)
February 2026
February 2025
% Change
ASM (mm) (1)
2,761.8
2,389.9
15.6
%
RPM (mm) (2)
2,406.9
2,072.0
16.2
%
Load Factor (3)
87.1
%
86.7
%
0.4
p.p.
Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown.
Revenue passenger miles - represents the number of miles flown by revenue passengers.
Load factor - represents the percentage of aircraft seating capacity that is utilized.
For February 2026, Copa Holdings' capacity (ASMs) increased by 15.6%, while system-wide passenger traffic (RPMs) increased by 16.2% compared to 2025. As a result, the system load factor for the month was 87.1%, 0.4 percentage points higher than in February 2025.
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.
What were Copa Holdings (CPA) passenger traffic results for February 2026?
Copa reported February 2026 RPMs of 2,406.9 million, up 16.2% year-over-year. According to the company, ASM expanded 15.6% to 2,761.8 million and load factor rose to 87.1%, a 0.4 percentage-point increase versus February 2025.
How did Copa Holdings' capacity change in February 2026 compared to February 2025?
Capacity (ASMs) increased 15.6% in February 2026 versus February 2025. According to the company, ASMs were 2,761.8 million, reflecting a higher seat-mile deployment across its network in the Americas and Caribbean.
What does Copa's February 2026 load factor of 87.1% mean for CPA investors?
The load factor of 87.1% indicates a high seat-utilization rate for February 2026. According to the company, this was 0.4 percentage points higher than February 2025, suggesting demand grew slightly faster than capacity expansion that month.
Did Copa Holdings see passenger demand growth in February 2026 and by how much?
Passenger demand (RPMs) grew by 16.2% year-over-year in February 2026. According to the company, RPMs reached 2,406.9 million, outpacing the 15.6% capacity increase and marginally lifting the system load factor.
Are Copa Holdings' February 2026 traffic figures consolidated for the whole company (CPA)?
Yes, the traffic statistics are consolidated for Copa Holdings and reported under CPA. According to the company, the consolidated figures show ASMs of 2,761.8 million and RPMs of 2,406.9 million for February 2026.
Where can investors find more information about Copa Holdings' February 2026 traffic release (CPA)?
Investors can access additional details and contact investor relations via the company's IR page. According to the company, further information is available on the Copa investor relations website and via their investor relations email contact.
