Copa Holdings Announces Monthly Traffic Statistics For October 2020

Copa Holdings reported its preliminary passenger traffic statistics for October 2020.

Rhea-AI Summary

Copa Holdings reported its preliminary passenger traffic statistics for October 2020. The company experienced an 85.2% decline in available seat miles (ASMs) at 300.2 million, compared to 2,030.9 million in October 2019. Revenue passenger miles (RPMs) decreased 87.8% year-over-year, totaling 209.8 million. The load factor reached 69.9%, down 15.1 percentage points from the previous year. This decline is attributed to ongoing pandemic-related travel restrictions.

Positive

• None.

Negative

• 85.2% decrease in ASMs year-over-year.
• 87.8% decline in RPMs compared to October 2019.
• Load factor down 15.1 percentage points from 2019.

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PANAMA CITY, Nov. 17, 2020 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for October 2020:

	Operating Data	October	October	% Change
		2020	2019	(YOY)
	Copa Holdings  (Consolidated)
	ASM (mm) (1)	300.2	2,030.9	-85.2%
	RPM (mm) (2)	209.8	1,726.1	-87.8%
	Load Factor (3)	69.9%	85.0%	-15.1p.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

After virtually no operations since March 2020 due to air travel restrictions related to the Coronavirus pandemic, the Company has now restarted regular operations and is gradually increasing its capacity (ASMs), which came in 85.2% lower year over year in October.  System-wide passenger traffic (RPMs) decreased 87.8% year over year, which resulted in a 69.9% load factor, 15.1 percentage points lower than October 2019. 

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-october-2020-301175391.html

SOURCE Copa Holdings, S.A.

FAQ

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

What were Copa Holdings' passenger traffic statistics for October 2020?

In October 2020, Copa Holdings reported a 85.2% drop in available seat miles and an 87.8% decrease in revenue passenger miles compared to the same month in 2019.

How did the load factor change for Copa Holdings in October 2020?

The load factor for Copa Holdings in October 2020 was 69.9%, down 15.1 percentage points from October 2019.

What were the main reasons for the decline in Copa Holdings' traffic statistics?

The significant declines in traffic statistics are primarily due to ongoing travel restrictions related to the Coronavirus pandemic, which affected operations since March 2020.

How has Copa Holdings' capacity changed in October 2020 compared to the previous year?

Copa Holdings' capacity (ASMs) in October 2020 was 85.2% lower compared to October 2019.

What is the significance of the RPM statistics for Copa Holdings in October 2020?

RPMs decreased by 87.8% year-over-year, indicating a substantial reduction in passenger travel and demand.