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Copa Holdings (NYSE: CPA) posts double-digit May 2026 traffic growth

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(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Copa Holdings reported strong growth in May 2026 traffic, with double-digit gains in both capacity and passenger demand. Available seat miles, a measure of flight capacity, rose 16.3% to 3,087.2 million compared to 2,655.2 million in May 2025.

Revenue passenger miles, which track paying passengers carried, increased 17.0% to 2,723.6 million from 2,327.2 million. The system load factor, indicating how full the planes were, improved to 88.2%, up 0.6 percentage points from 87.6% a year earlier, reflecting slightly better utilization of capacity.

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Insights

Copa’s May 2026 traffic shows solid double‑digit growth with slightly better aircraft utilization.

Copa Holdings reported a 16.3% increase in capacity (ASMs) and a 17.0% rise in passenger traffic (RPMs) for May 2026 versus May 2025. The higher RPM growth than ASM growth pushed load factor to 88.2%, up 0.6 percentage points.

This pattern suggests demand kept pace with, and slightly exceeded, the additional capacity during the month, which is generally favorable for unit revenue potential. However, these are preliminary monthly figures and do not include yields, costs, or profitability, so the broader financial impact will depend on future disclosures.

Available seat miles May 2026 3,087.2 million Copa Holdings consolidated capacity for May 2026
Available seat miles May 2025 2,655.2 million Copa Holdings consolidated capacity for May 2025
Capacity growth 16.3% Year-over-year ASM increase for May 2026 vs May 2025
Revenue passenger miles May 2026 2,723.6 million Copa Holdings consolidated traffic for May 2026
Revenue passenger miles May 2025 2,327.2 million Copa Holdings consolidated traffic for May 2025
Traffic growth 17.0% Year-over-year RPM increase for May 2026 vs May 2025
Load factor May 2026 88.2% System load factor for May 2026
Load factor May 2025 change 0.6 p.p. Increase in load factor vs May 2025
Available seat miles financial
"Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown."
Available seat miles measure the total capacity of an airline to carry passengers, calculated by multiplying the number of seats available on all flights by the distance those flights cover. It indicates how much space an airline has to generate revenue from passenger travel. For investors, higher available seat miles generally suggest a larger operation and potential for increased earnings.
Revenue passenger miles financial
"Revenue passenger miles - represents the number of miles flown by revenue passengers"
Revenue passenger miles measure the total distance traveled by paying passengers on a transportation service, calculated by multiplying the number of paying passengers by the miles they travel. It shows how much revenue-generating activity a transportation company is doing, helping investors assess how well the company is attracting and serving passengers. Higher revenue passenger miles typically indicate stronger demand and better financial performance.
Load factor financial
"Load factor - represents the percentage of aircraft seating capacity that is utilized"
Load factor is a measure of how efficiently a transportation service, such as a plane, train, or bus, fills its available seats or space over a period of time. It is calculated by dividing the actual number of passengers or usage by the total available capacity. A higher load factor indicates better utilization, which can lead to more profitable operations and is important for investors assessing the efficiency and profitability of transportation companies.
preliminary passenger traffic statistics financial
"today released preliminary passenger traffic statistics for May 2026"
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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_______________________________________________
FORM 6-K
_______________________________________________
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
Report on Form 6-K dated for the month of June 2026
_______________________________________________
Copa Holdings, S.A.
(Translation of Registrant’s Name Into English)
_______________________________________________
Boulevard Costa del Este, Avenida Principal y Avenida de la Rotonda
Urbanización Costa del Este
Complejo Business Park, Torre Norte
ParqueLefevre
Panama City, Panama
(Address of principal executive offices)
_______________________________________________
(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F
x
Form 40-F
o
(Indicate by check whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.)
Yes
o
No
x
(If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b);82- )
Enclosure: Press Release - Copa Holdings Announces Monthly Traffic Statistics for May 2026


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
Copa Holdings, S.A.
(Registrant)
 Date: 6/11/26
By: /s/ Peter Donkersloot
 Name: Peter Donkersloot
Title: CFO


Exhibit 99.1
Copa Holdings Announces Monthly Traffic Statistics for May 2026
PANAMA CITY, June 11, 2026 (GLOBE NEWSWIRE) -- Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for May 2026:
Copa Holdings (Consolidated)May
2026		May
2025		% Change
ASM (mm) (1)
3,087.22,655.216.3 %
RPM (mm) (2)
2,723.62,327.217.0 %
Load Factor (3)
88.2 %87.6 %0.6 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 utilized

For May 2026, Copa Holdings' capacity (ASMs) increased by 16.3%, while system-wide passenger traffic (RPMs) increased by 17.0% compared to 2025. As a result, the system load factor for the month was 88.2%, 0.6 percentage points higher than in May 2025.
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 ir.copaair.com.
CPA-G
Investor Relations
investor.relations@copaair.com

Source: View Original Filing on SEC EDGAR

FAQ

How did Copa Holdings (CPA) traffic perform in May 2026?

Copa Holdings reported strong May 2026 traffic, with capacity up 16.3% and passenger demand up 17.0% versus May 2025. This led to a higher load factor, indicating fuller planes and better utilization of its network.

What was Copa Holdings’ load factor in May 2026?

Copa Holdings’ load factor reached 88.2% in May 2026, up from 87.6% a year earlier. Load factor measures how full planes are, and this 0.6 percentage-point increase shows slightly improved use of available seats.

How much did Copa Holdings’ capacity grow in May 2026?

Copa Holdings’ capacity, measured in available seat miles, increased 16.3% in May 2026 compared to May 2025. Available seat miles reflect total seats flown times distance, indicating a meaningful expansion of the airline’s offered capacity.

What were Copa Holdings’ May 2026 available seat miles and revenue passenger miles?

In May 2026, Copa Holdings recorded 3,087.2 million available seat miles and 2,723.6 million revenue passenger miles. These compare to 2,655.2 million ASMs and 2,327.2 million RPMs in May 2025, showing double-digit growth in both capacity and traffic.

Does Copa Holdings’ May 2026 traffic release include profitability or earnings data?

The May 2026 traffic release provides preliminary operational statistics only, including capacity, passenger traffic, and load factor. It does not contain revenue, costs, or earnings figures, so financial performance must be assessed from future or separate reports.

Filing Exhibits & Attachments

1 document

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