Copa Holdings Announces Monthly Traffic Statistics for September 2024

Rhea-AI Summary

Copa Holdings has released its preliminary passenger traffic statistics for September 2024. The company reported a 9.1% increase in capacity (ASMs) and a 7.3% increase in system-wide passenger traffic (RPMs) compared to September 2023. However, the system load factor decreased by 1.4 percentage points to 85.9%.

Key figures for September 2024:

• Available seat miles (ASM): 2,497.3 million
• Revenue passenger miles (RPM): 2,145.3 million
• Load factor: 85.9%

Copa Holdings is a leading Latin American provider of passenger and cargo services, operating in countries across North, Central, and South America and the Caribbean.

Positive

• 9.1% increase in capacity (ASMs) compared to September 2023
• 7.3% increase in system-wide passenger traffic (RPMs) compared to September 2023

Negative

• System load factor decreased by 1.4 percentage points to 85.9% compared to September 2023

Insights

Financial Analyst

Copa Holdings' September 2024 traffic statistics reveal mixed results. While capacity (ASMs) increased by 9.1% year-over-year, passenger traffic (RPMs) grew at a slower rate of 7.3%. This mismatch led to a 1.4 percentage point decrease in load factor to 85.9%.

The 9.1% capacity increase suggests Copa is expanding its routes or frequency, possibly in response to recovering post-pandemic demand. However, the slower growth in passenger traffic indicates that demand isn't fully keeping pace with this expansion. The 85.9% load factor, while lower than last year, is still relatively healthy for the airline industry.

Investors should monitor whether this trend continues, as persistently lower load factors could pressure profitability. However, Copa's strategic expansion might position it well for future growth if demand catches up. The impact on financials will depend on yield management and cost control in the face of this capacity-demand mismatch.

PANAMA CITY, Oct. 15, 2024 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for September 2024:

Operating Data	September 2024		September 2023		% Change
Copa Holdings (Consolidated)
ASM (mm) (1)	2,497.3		2,289.9		9.1%
RPM (mm) (2)	2,145.3		1,998.5		7.3%
Load Factor (3)	85.9 %		87.3 %		-1.4 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 actually utilized

For September 2024, Copa Holdings' capacity (ASMs) increased by 9.1%, while system-wide passenger traffic (RPMs) increased by 7.3%, compared to 2023. As a result, the system load factor for the month was 85.9%, 1.4 percentage points lower than in September 2023.

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 www.copaair.com.

CPA-G

CONTACT: Daniel Tapia – Panamá
Director – Investor Relations
011 (507) 304-2774

FAQ

What was Copa Holdings' (CPA) capacity increase in September 2024?

Copa Holdings' capacity (ASMs) increased by 9.1% in September 2024 compared to the same month in 2023.

How did Copa Holdings' (CPA) passenger traffic change in September 2024?

Copa Holdings' system-wide passenger traffic (RPMs) increased by 7.3% in September 2024 compared to September 2023.

What was Copa Holdings' (CPA) load factor in September 2024?

Copa Holdings' system load factor for September 2024 was 85.9%, which was 1.4 percentage points lower than in September 2023.

How many available seat miles (ASMs) did Copa Holdings (CPA) report for September 2024?

Copa Holdings reported 2,497.3 million available seat miles (ASMs) for September 2024.