Copa Holdings, S.A. (NYSE: CPA) reported third quarter 2015 net income of USD6.2 million for 3Q15, or diluted earnings per share (EPS) of USD0.14.
Excluding special items, Copa Holdings would have reported an adjusted net income of USD37.4 million, or USD0.85 per share, a 62.5 percent decrease from adjusted net income of USD99.8 million and USD2.25 per share for 3Q14.
Operating income came in at USD50.6 million, a 54.5 percent decrease from operating income of USD111.1 million in the prior year third quater.
Operating margin for the period came in at 9.2 percent or 7.5 percentage points below year over year quarter, as a result of lower unit revenues.
Total revenues decreased 17.5 percent to USD547.2 million. Yield per passenger mile decreased 20.1 percent to USD0.127 and operating revenue per available seat mile (RASM) decreased 19.1 percent to USD0.101.
Copa Holdings is a leading Latin American provider of passenger and cargo services. The company, through its operating subsidiaries, provides service to 74 destinations in 31 countries in North, Central and South America and the Caribbean.