Copa Holdings (CPA) Incurs Narrower-Than-Expected Loss in Q1
Zacks.com
2 days ago
Copa Holdings CPA incurred a loss (excluding 37 cents from non-recurring items) of $2.23 per share in the first quarter of 2021, narrower than the Zacks Consensus Estimate of a loss of $2.25. In the year-ago period, the company reported earnings of $1.75. Results were hurt by coronavirus-induced limited flight operations. The company’s flight operations were only 39% of the 2019 (pre-pandemic) level in the quarter.
Popular Searches
Operational Statistics
On a consolidated basis, traffic (measured in revenue passenger miles or RPMs) fell 61.6% and capacity (measured in available seat miles/ASMs) declined 54.8%. As traffic decline was more than the amount of capacity contraction, load factor (% of seats filled with passengers) contracted 12.3 percentage points to 69.2% in the reported quarter. Passenger revenue per available seat miles decreased 33.3% year over year to 7 cents. Additionally, total revenue per available seat mile slipped 31% to 7.5 cents. Cost per available seat mile jumped 17.1% year over year. Excluding fuel, the metric surged 30.1%.