Copa Holdings Announces Monthly Traffic Statistics For September 2021

Rhea-AI Summary

Copa Holdings (NYSE: CPA) released preliminary passenger traffic statistics for September 2021, highlighting a 25.8% decrease in consolidated capacity (ASMs) compared to September 2019 and a 30.5% decline in passenger traffic (RPMs). The load factor stood at 79.5%, down 5.4 percentage points from 2019 levels. The comparisons to 2019 are a result of the impact of the Covid-19 pandemic on operations since March 2020. Copa Holdings serves North, Central, and South America as well as the Caribbean.

Positive

• Copa Holdings maintains a significant load factor of 79.5% despite the challenges.

Negative

• Passenger traffic (RPMs) decreased by 30.5% compared to September 2019.
• Consolidated capacity (ASMs) was 25.8% lower than September 2019.
• The load factor declined by 5.4 percentage points from 2019.

PANAMA CITY, Oct. 12, 2021 /PRNewswire/ -- Copa Holdings, S.A. (NYSE: CPA), today released preliminary passenger traffic statistics for September 2021:

Operating Data	September	September	% Change
	2021	2019
Copa Holdings  (Consolidated)
ASM (mm) (1)	1,478.5	1,992.1	-25.8%
RPM (mm) (2)	1,175.1	1,691.5	-30.5%
Load Factor (3)	79.5%	84.9%	-5.4p.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 25.8% lower than September 2019, while passenger traffic (RPMs) decreased 30.5%, which resulted in a 79.5% load factor.

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.copa.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-september-2021-301398644.html

SOURCE Copa Holdings, S.A.

FAQ

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

In September 2021, Copa Holdings reported a 30.5% decrease in passenger traffic (RPMs) and a 25.8% decline in capacity (ASMs) compared to September 2019.

What is the load factor reported by Copa Holdings for September 2021?

Copa Holdings reported a load factor of 79.5% for September 2021, down 5.4 percentage points from September 2019.

Why does Copa Holdings compare its traffic statistics to 2019?

Copa Holdings compares its traffic statistics to 2019 due to the irregular nature of operations caused by the Covid-19 pandemic starting in March 2020.

How does Copa Holdings' September 2021 performance affect investors?

The decline in RPMs and ASMs may raise concerns for investors regarding recovery in travel demand post-Covid-19.