Copa Holdings Announces Monthly Traffic Statistics For May 2021

Rhea-AI Summary

Copa Holdings, S.A. (NYSE: CPA) reported preliminary passenger traffic statistics for May 2021, revealing a significant decline compared to pre-pandemic levels. Capacity decreased by 53.4%, while passenger traffic fell by 58.0%, resulting in a load factor of 77.6%, down from 86.1% in May 2019. The company emphasized the impact of the Covid-19 pandemic on operations and plans to benchmark future reports against 2019 data. Copa Holdings continues to serve 80 destinations across 33 countries in the Americas and Caribbean.

Positive

• Copa Holdings maintains a network serving 80 destinations in 33 countries, indicating operational resilience.

Negative

• Passenger traffic decreased by 58.0% compared to May 2019.
• Capacity (ASMs) fell by 53.4% versus pre-pandemic levels.
• Load factor declined by 8.5 percentage points from May 2019.

PANAMA CITY, June 10, 2021 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for May 2021:

Operating Data	May	May	% Change
	2021	2019
Copa Holdings  (Consolidated)
ASM (mm) (1)	970.9	2,085.2	-53.4%
RPM (mm) (2)	753.6	1,796.3	-58.0%
Load Factor (3)	77.6%	86.1%	-8.5p.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

Given the irregular nature of the Company's operations starting in March 2020 due to the Covid-19 pandemic, we will compare this and future traffic reports to 2019 statistics. 

Consolidated capacity (ASMs) came in 53.4% lower than May 2019, while passenger traffic (RPMs) decreased 58.0%, which resulted in a 77.6% load factor.

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-may-2021-301310632.html

SOURCE Copa Holdings, S.A.

FAQ

What were Copa Holdings' passenger traffic statistics for May 2021?

In May 2021, Copa Holdings reported a passenger traffic decrease of 58.0% compared to May 2019.

How did the load factor change for Copa Holdings in May 2021?

The load factor for Copa Holdings in May 2021 was 77.6%, down from 86.1% in May 2019.

What impact did the Covid-19 pandemic have on Copa Holdings' operations?

Copa Holdings experienced significant declines in capacity and passenger traffic due to the Covid-19 pandemic, comparing current stats to those of 2019.

What is the capacity change reported by Copa Holdings for May 2021?

Copa Holdings reported a capacity decrease of 53.4% in May 2021 compared to May 2019.

When did Copa Holdings start comparing its traffic reports to 2019 statistics?

Copa Holdings began comparing its traffic reports to 2019 statistics starting in March 2020 due to the irregular nature of operations from the Covid-19 pandemic.