Copa Holdings Announces Monthly Traffic Statistics for December 2020

Rhea-AI Summary

Copa Holdings, S.A. (NYSE: CPA) reported December 2020 passenger traffic statistics, showing significant declines compared to December 2019. Available seat miles (ASMs) plummeted by 60.8% to 832.3 million, while revenue passenger miles (RPMs) decreased by 65.7% to 622.6 million. The load factor for December was 74.8%, down 10.6 percentage points year-over-year. This reduction in capacity and traffic underscores the ongoing challenges faced in the aviation sector amid the pandemic.

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• ASMs decreased by 60.8% year-over-year, indicating reduced capacity.
• RPMs fell by 65.7% year-over-year, reflecting significantly lower passenger traffic.
• Load factor decreased to 74.8%, a decline of 10.6 percentage points compared to the previous year.

PANAMA CITY, Panama, Jan. 14, 2021 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for December 2020:

Operating Data	December	December	% Change
	2020	2019	(YOY)
Copa Holdings  (Consolidated)
ASM (mm) (1)	832.3	2,124.5	-60.8%
RPM (mm) (2)	622.6	1,814.0	-65.7%
Load Factor (3)	74.8%	85.4%	-10.6p.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

 Consolidated capacity (ASMs) came in 60.8% lower year over year in December, while passenger traffic (RPMs) decreased 65.7% year over year, which resulted in a 74.8% load factor, 10.6 percentage points lower than December 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-december-2020-301208907.html

SOURCE Copa Holdings, S.A.

FAQ

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

Copa Holdings reported a 60.8% decrease in available seat miles (ASMs) and a 65.7% decrease in revenue passenger miles (RPMs) for December 2020 compared to December 2019.

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

The load factor for Copa Holdings in December 2020 was 74.8%, down 10.6 percentage points from December 2019.

What challenges did Copa Holdings face in December 2020?

Copa Holdings faced significant challenges in December 2020, with sharp declines in both capacity and passenger traffic due to the ongoing impacts of the pandemic.