Copa Holdings Announces Monthly Traffic Statistics For March 2021

Copa Holdings reported its preliminary passenger traffic statistics for March 2021.

Rhea-AI Summary

Copa Holdings reported its preliminary passenger traffic statistics for March 2021. The operating metrics showed a significant decline when compared to March 2019, with capacity (ASM) down by 63.7% and passenger traffic (RPM) dropping 67.4%. The load factor for March 2021 was 74.6%, down 8.7 percentage points year-over-year. This performance reflects ongoing impacts from the Covid-19 pandemic, prompting comparisons with pre-pandemic statistics.

Positive

• Copa Holdings operates in 80 destinations across 33 countries, indicating significant market reach.
• The company is a leading provider of passenger and cargo services in Latin America.

Negative

• Passenger traffic decreased by 67.4% compared to March 2019, indicating ongoing struggles.
• Capacity (ASM) was down 63.7% compared to March 2019, highlighting reduced operations.
• The load factor of 74.6% reflects declining demand compared to pre-pandemic levels.

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PANAMA CITY, April 13, 2021 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for March 2021:

Operating Data	March	March	% Change
	2021	2019
Copa Holdings  (Consolidated)
ASM (mm) (1)	773.0	2,126.6	-63.7%
RPM (mm) (2)	577.0	1,771.7	-67.4%
Load Factor (3)	74.6%	83.3%	-8.7p.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 numbers of miles flown by revenue passengers
3.  Load factor - represents the percentage of aircraft seating capacity that is actually utilized

Given the irregular nature of the Company's operations starting in March 2020 due to the Covid-19 pandemic, we will compare this and future traffic reports to 2019 statistics. 

Consolidated capacity (ASMs) came in 63.7% lower than March 2019, while passenger traffic (RPMs) decreased 67.4%, which resulted in a 74.6% load factor.

Copa Holdings is a leading Latin American provider of passenger and cargo services.  The Company, through its operating subsidiaries, provides service to 80 destinations in 33 countries in North, Central and South America and the Caribbean.  For more information visit www.copa.com.

CPA-G

CONTACT:	Raúl Pascual – Panamá
	Director – Investor Relations
	011 (507) 304-2774

 

View original content:http://www.prnewswire.com/news-releases/copa-holdings-announces-monthly-traffic-statistics-for-march-2021-301268212.html

SOURCE Copa Holdings, S.A.

FAQ

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

What were Copa Holdings' traffic statistics for March 2021?

In March 2021, Copa Holdings reported a 67.4% decrease in passenger traffic compared to March 2019.

How did Copa Holdings' capacity change in March 2021?

Copa Holdings' capacity (ASM) decreased by 63.7% compared to March 2019.

What is the load factor reported by Copa Holdings for March 2021?

Copa Holdings reported a load factor of 74.6% in March 2021.

Why does Copa Holdings compare March 2021 statistics to March 2019?

Copa Holdings compares these statistics to 2019 to assess recovery from the impacts of the Covid-19 pandemic.