Copa Holdings Announces Monthly Traffic Statistics for November 2025

Rhea-AI Summary

Copa Holdings (NYSE: CPA) released preliminary November 2025 traffic statistics showing capacity and demand growth versus November 2024.

• ASM (available seat miles) totaled 2,777.6 mm, up 10.0% year‑over‑year.
• RPM (revenue passenger miles) totaled 2,394.7 mm, up 10.2% year‑over‑year.
• System load factor was 86.2%, a 0.1 percentage‑point increase versus November 2024.

The release notes definitions for ASM, RPM and load factor and points investors to the company's investor relations site for more information.

Positive

• ASM +10.0% year‑over‑year (November 2025)
• RPM +10.2% year‑over‑year (November 2025)
• Load factor 86.2%, +0.1 p.p. versus November 2024

Negative

• None.

News Market Reaction

+0.21%

1 alert

+0.21% News Effect

On the day this news was published, CPA gained 0.21%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Current price: $118.10 Market cap: $4,898,311,900 ASM November 2025: 2,777.6 mm +5 more

8 metrics

Current price $118.10 Prior to November 2025 traffic release

Market cap $4,898,311,900 Equity value before news

ASM November 2025 2,777.6 mm Available seat miles, November 2025

ASM YoY change 10.0% Capacity growth vs November 2024

RPM November 2025 2,394.7 mm Revenue passenger miles, November 2025

RPM YoY change 10.2% Passenger traffic growth vs November 2024

Load factor November 2025 86.2% System load factor for the month

Load factor change 0.1 p.p. Increase vs November 2024

Market Reality Check

Price: $146.21 Vol: Volume 263,596 vs 20-day ...

normal vol

$146.21 Last Close

Volume Volume 263,596 vs 20-day average 368,520 (relative volume 0.72x). normal

Technical Price 118.1 trades above 200-day MA at 109.6, with shares 9.15% below 52-week high.

Peers on Argus

Peers showed mixed moves: AAL up 4.1%, JBLU and ALK modestly positive, while SKY...

Peers showed mixed moves: AAL up 4.1%, JBLU and ALK modestly positive, while SKYW and LUV declined. CPA’s -0.75% move occurred without a clear, uniform airlines-sector trend.

Historical Context

5 past events · Latest: Nov 19 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Nov 19	Quarterly earnings	Positive	+2.6%	Strong 3Q25 profit, margins, traffic metrics, and dividend declaration.
Nov 12	Monthly traffic stats	Positive	-1.2%	October ASMs and RPMs grew, while load factor slipped slightly year over year.
Oct 13	Monthly traffic stats	Positive	+4.3%	September ASMs and RPMs increased with higher system load factor.
Oct 07	Earnings schedule	Neutral	+3.4%	Announcement of timing and access details for 3Q25 earnings release.
Sep 11	Monthly traffic stats	Positive	+0.9%	August capacity and passenger traffic rose with notably higher load factor.

Pattern Detected

Recent earnings and monthly traffic updates have typically seen positive or modestly positive price reactions, with only one recent traffic release drawing a negative move.

Recent Company History

Over the last few months, Copa has reported solid fundamentals and steady traffic growth. On Nov 19, 3Q25 results showed higher profits, margins, and load factor, with a 2.62% price gain. Monthly traffic releases for August, September, and October 2025 all showed year-over-year ASM and RPM growth, with load factors generally high and often improving, though October’s load factor dipped slightly and the stock fell 1.21%. Today’s November 2025 traffic release continues the theme of capacity and demand rising in tandem.

Market Pulse Summary

This announcement reports that November 2025 capacity and demand moved in tandem, with ASMs up 10.0%...

Analysis

This announcement reports that November 2025 capacity and demand moved in tandem, with ASMs up 10.0%, RPMs up 10.2%, and a high system load factor of 86.2%, slightly above last year. It extends a multi-month trend of solid traffic performance following strong 3Q25 financial results. Investors monitoring the story may track subsequent traffic releases, load factor stability, and any regulatory filings, alongside how these operating metrics connect to future earnings quality and capital allocation decisions.

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"

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.

AI-generated analysis. Not financial advice.

PANAMA CITY, Dec. 16, 2025 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for November 2025:

Copa Holdings (Consolidated)	November 2025		November 2024		% Change
ASM (mm) (1)	2,777.6		2,524.1		10.0	%
RPM (mm) (2)	2,394.7		2,173.5		10.2	%
Load Factor (3)	86.2	%	86.1	%	0.1	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 November 2025, Copa Holdings' capacity (ASMs) increased by 10.0%, while system-wide passenger traffic (RPMs) increased by 10.2% compared to 2024. As a result, the system load factor for the month was 86.2%, 0.1 percentage points higher than in November 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) ASMs for November 2025 and how did they change YoY?

Copa reported 2,777.6 mm ASMs for November 2025, a 10.0% increase versus November 2024.

How much did Copa Holdings (CPA) RPMs change in November 2025 versus 2024?

RPMs were 2,394.7 mm in November 2025, up 10.2% year‑over‑year.

What was Copa Holdings' (CPA) system load factor in November 2025?

The system load factor was 86.2% in November 2025, 0.1 percentage points higher than November 2024.

Where can investors find more details on Copa Holdings (CPA) November 2025 traffic stats?

Investors can visit the company's investor relations website for full traffic statistics and disclosures.

Do Copa Holdings' November 2025 results show capacity growth or demand growth for CPA?

Both: capacity (ASMs) grew 10.0% and demand (RPMs) grew 10.2% versus November 2024.