Copa Holdings reports Q2 2018 USD 49.9m in net income

Copa Holdings, S.A. (NYSE: CPA) has reported second quarter 2018 net income of USD 49.9 million for 2Q18 or earnings per share (EPS) of USD 1.18, as compared to net income of USD 58.6 million or earnings per share of USD1.38 in 2Q17, the company said.

Operating income for the second quarter 2018 came in at USD 57.1 million, representing a 27.3% decrease over operating income of USD 78.6 million in 2Q17, mainly as a result of a 4.8% increase in unit costs (CASM) due to higher fuel prices.

Operating margin for the second quarter 2018 came in at 9.0%, compared to an operating margin of 13.7% in 2Q17.

For the second quarter 2018, consolidated passenger traffic grew 13% while consolidated capacity grew 11.2%. As a result, consolidated load factor for the quarter increased 1.3 percentage points to 83.5%.

Total revenues for the second quarter 2018 increased 10.5% to USD 634.1 million. Yield per passenger mile decreased 2.2% to 11.4 cents and RASM came in at 9.8 cents, or 0.6% below 2Q17.

Copa Holdings ended the quarter with a consolidated fleet of 101 aircraft — 68 Boeing 737-800s, 14 Boeing 737-700s, and 19 Embraer-190s.

For the second quarter 2018, Copa Airlines had an on-time performance of 89.9% and a flight-completion factor of 99.8%.

Copa Holdings is a Latin American provider of passenger and cargo services. The Company, through its operating subsidiaries, provides service to 80 destinations in 32 countries in North, Central and South America and the Caribbean with one of the youngest and most modern fleets in the industry, consisting of 101 aircraft: 82 Boeing 737NG aircraft and 19 EMBRAER-190s.