COPA HOLDINGS ANNOUNCES MONTHLY TRAFFIC STATISTICS FOR AUGUST 2024

Rhea-AI Summary

Copa Holdings (NYSE: CPA) released its August 2024 traffic statistics, showing mixed results. The company's capacity (ASMs) increased by 8.2% compared to August 2023, reaching 2,603.4 million. Passenger traffic (RPMs) grew by 5.8% to 2,215.2 million. However, the load factor decreased by 1.9 percentage points to 85.1%.

These figures indicate that Copa Holdings expanded its operations but faced challenges in filling seats at the same rate as the previous year. As a leading Latin American airline, Copa provides passenger and cargo services to various countries in the Americas and the Caribbean.

Positive

• Capacity (ASMs) increased by 8.2% year-over-year
• Passenger traffic (RPMs) grew by 5.8% compared to August 2023

Negative

• Load factor decreased by 1.9 percentage points to 85.1%
• Passenger traffic growth (5.8%) lagged behind capacity growth (8.2%)

News Market Reaction – CPA

+3.37%

1 alert

+3.37% News Effect

On the day this news was published, CPA gained 3.37%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

PANAMA CITY, September 11, 2024 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for August 2024:

Operating Data	August 2024	August 2023	% Change
Copa Holdings (Consolidated)
ASM (mm) (1)	2,603.4	2,407.1	8.2 %
RPM (mm) (2)	2,215.2	2,093.3	5.8 %
Load Factor (3)	85.1 %	87.0 %	-1.9 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 August 2024, Copa Holdings' capacity (ASMs) increased by 8.2%, while system-wide passenger traffic (RPMs) increased by 5.8%, compared to 2023. As a result, the system load factor for the month was 85.1%, 1.9 percentage points lower than in August 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

View original content:https://www.prnewswire.com/news-releases/copa-holdings-announces-monthly-traffic-statistics-for-august-2024-302244931.html

SOURCE Copa Holdings, S.A.

FAQ

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

Copa Holdings (CPA) reported an 8.2% increase in capacity (ASMs) for August 2024 compared to the same month in 2023.

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

Copa Holdings (CPA) experienced a 5.8% increase in passenger traffic (RPMs) in August 2024 compared to August 2023.

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

Copa Holdings (CPA) reported a load factor of 85.1% for August 2024, which was 1.9 percentage points lower than in August 2023.

How did Copa Holdings' (CPA) load factor change compared to the previous year?

Copa Holdings' (CPA) load factor decreased by 1.9 percentage points in August 2024 compared to August 2023, dropping from 87.0% to 85.1%.