From GlobeNewswire: 2024-11-20 17:00:00

Copa Holdings, S.A. reported a net profit of US$146.0 million for the third quarter of 2024, with an operating profit of US$173.7 million and a 20.3% operating margin. Passenger traffic increased by 7.6%, while revenue per available seat mile decreased by 10.1% compared to the same period in 2023.

The Company ended the quarter with approximately US$1.3 billion in cash and investments, representing 36% of the last twelve months’ revenues. Copa Airlines had an on-time performance of 87.3% and a flight completion factor of 99.6%, maintaining a strong position in the industry. The Company also took delivery of one Boeing 737 MAX 8 aircraft during the quarter.

Copa Holdings will make its third dividend payment of the year of US$1.61 per share on December 13, 2024, to all Class A and Class B shareholders on record as of December 2, 2024. The Company closed the quarter with total debt, including lease liabilities, of US$1.9 billion, with an Adjusted Net Debt to EBITDA ratio of 0.6 times.

In the third quarter of 2024, Copa Holdings reported an operating revenue of US$854.7 million, a 1.5% decrease compared to the same period in 2023. The Company’s net profit for the quarter was US$146.0 million, representing a 22.1% decrease from 3Q23.Operating expenses for the quarter totaled US$680.9 million, a 2.8% increase from 3Q23.



Read more at GlobeNewswire:: Copa Holdings Reports Financial Results for the Third