Copa Holdings Announces Monthly Traffic Statistics for January 2026

Rhea-AI Summary

Copa Holdings (NYSE: CPA) released preliminary January 2026 passenger traffic statistics. Available seat miles (ASM) rose 11.9% to 3,104.4 million, revenue passenger miles (RPM) increased 13.3% to 2,716.0 million, and system load factor reached 87.5%, up 1.1 percentage points year-over-year.

The data indicate higher demand growth than capacity expansion for the month. Copa provides passenger and cargo services across the Americas and the Caribbean.

Positive

• ASM +11.9% to 3,104.4 million in January 2026
• RPM +13.3% to 2,716.0 million in January 2026
• Load factor +1.1 p.p. to 87.5% in January 2026

Negative

• None.

Key Figures

ASM: 3,104.4 mm ASM prior year: 2,774.6 mm ASM change: 11.9% +5 more

8 metrics

ASM 3,104.4 mm Copa Holdings consolidated, January 2026

ASM prior year 2,774.6 mm Copa Holdings consolidated, January 2025

ASM change 11.9% January 2026 vs January 2025 capacity growth

RPM 2,716.0 mm Copa Holdings consolidated, January 2026

RPM prior year 2,396.2 mm Copa Holdings consolidated, January 2025

RPM change 13.3% January 2026 vs January 2025 passenger traffic growth

Load factor 87.5% System load factor, January 2026

Load factor change 1.1 p.p. Increase vs January 2025 system load factor

Market Reality Check

Price: $153.14 Vol: Volume 279,213 is below 2...

normal vol

$153.14 Last Close

Volume Volume 279,213 is below 20-day average 377,044 (relative volume 0.74x). normal

Technical Price 153.45 trades above 200-day MA 116.61 and sits 0.73% below 52-week high 154.58.

Peers on Argus

CPA gained 3.01% while key airline peers were mixed: ALK +2.05%, but AAL -1.93%,...

CPA gained 3.01% while key airline peers were mixed: ALK +2.05%, but AAL -1.93%, JBLU -2.38%, LUV -0.85%, SKYW -0.42%, indicating stock-specific strength rather than a broad airline move.

Historical Context

5 past events · Latest: Jan 13 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 13	Monthly traffic stats	Positive	-4.2%	December 2025 ASMs, RPMs and load factor all improved year-over-year.
Jan 08	Earnings schedule	Neutral	+0.5%	Announced timetable and webcast details for upcoming 4Q25 earnings release.
Dec 16	Monthly traffic stats	Positive	+0.2%	November 2025 capacity and traffic grew with slightly higher system load factor.
Nov 19	Quarterly earnings	Positive	+2.6%	3Q25 net profit, EPS, margins and traffic metrics improved versus prior year.
Nov 12	Monthly traffic stats	Neutral	-1.2%	October 2025 showed capacity and demand growth with a slightly lower load factor.

Pattern Detected

Operational traffic updates are generally positive but have produced mixed reactions, including at least one notable sell-off after strong monthly stats, while solid earnings reports have tended to see aligned positive price moves.

Recent Company History

Over the past few months, Copa has regularly reported year-over-year capacity and traffic growth with improving load factors. October, November and December 2025 releases all showed higher ASMs, RPMs and generally firm utilization, yet reactions ranged from -4.24% to modest gains. A strong 3Q25 earnings report on Nov 19 with higher profit, margins and cash saw a +2.62% move. Today’s January 2026 traffic release continues the theme of rising demand and high load factors heading into the scheduled 4Q25 earnings dates.

Market Pulse Summary

This announcement highlights continued operational momentum, with January 2026 ASMs up 11.9%, RPMs u...

Analysis

This announcement highlights continued operational momentum, with January 2026 ASMs up 11.9%, RPMs up 13.3%, and load factor improving to 87.5% versus January 2025. These figures extend the pattern of year-over-year capacity and demand growth seen through late 2025. Investors may monitor upcoming monthly traffic releases and the scheduled 4Q25 earnings report to see whether demand, utilization, and profitability trends remain consistent with these January metrics.

Key Terms

available seat miles, revenue passenger miles, load factor, RPM

4 terms

available seat miles technical

"Available seat miles - represents the aircraft seating capacity multiplied..."

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..."

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..."

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.

RPM technical

"RPM (mm) (2) | | 2,716.0 | | 2,396.2 | | 13.3 | %"

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.

AI-generated analysis. Not financial advice.

PANAMA CITY, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for January 2026:

Copa Holdings (Consolidated)		January 2026		January 2025		% Change
ASM (mm)(1)		3,104.4		2,774.6		11.9	%
RPM (mm)(2)		2,716.0		2,396.2		13.3	%
Load Factor(3)		87.5	%	86.4	%	1.1	p.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 January 2026, Copa Holdings' capacity (ASMs) increased by 11.9%, while system-wide passenger traffic (RPMs) increased by 13.3% compared to 2025. As a result, the system load factor for the month was 87.5%, 1.1 percentage points higher than in January 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.

CPA-G

Investor Relations
investor.relations@copaair.com

FAQ

What passenger traffic did Copa Holdings (CPA) report for January 2026?

Copa reported January 2026 RPMs of 2,716.0 million, a 13.3% increase year-over-year. According to the company, ASM rose 11.9% to 3,104.4 million and load factor improved to 87.5%, up 1.1 percentage points.

How much did Copa Holdings (CPA) increase capacity in January 2026?

Copa increased capacity by 11.9% in January 2026, with ASMs of 3,104.4 million. According to the company, capacity growth trailed passenger demand growth, contributing to a higher load factor for the month.

What does Copa Holdings' (CPA) January 2026 load factor indicate for demand?

The load factor was 87.5% in January 2026, up 1.1 percentage points year-over-year. According to the company, this suggests passenger demand grew faster than capacity, improving seat utilization across the network.

Did Copa Holdings (CPA) see revenue passenger mile growth in January 2026, and by how much?

Yes. Revenue passenger miles grew by 13.3% in January 2026 to 2,716.0 million. According to the company, this outpaced ASM growth, which helped raise the system load factor to 87.5% for the month.

Where does Copa Holdings (CPA) operate service as noted in the January 2026 update?

Copa provides passenger and cargo services across North, Central, and South America and the Caribbean. According to the company, its operating subsidiaries deliver the network coverage referenced alongside the January 2026 traffic figures.