Copa Holdings Reports Second-Quarter Financial Results

Copa Holdings announced its second-quarter financial results for 2026, highlighting resilience in a high jet fuel price environment. The company reported an operating profit of US$91.7 million and an operating margin of 8.7%, with a year-over-year decrease in operating profit of 50.0%. Net profit was US$68.2 million, or US$1.67 per share, a 53.9% decrease year-over-year. Operating revenue increased by 25.7% to US$1.06 billion, driven by a 16.5% increase in capacity and a 7.9% rise in revenue per available seat mile (RASM). Despite an 84.8% increase in average fuel prices, Copa Holdings maintained a strong liquidity position with US$1.5 billion in cash, investments, and a Net Debt-to-EBITDA ratio of 0.9x. The company also took delivery of four Boeing 737 MAX 8 aircraft, expanding its fleet to 131. Copa Airlines maintained high operational reliability with 90.6% on-time performance. Subsequent events include a dividend payment of US$1.71 per share and the rollout of Starlink onboard internet, with full fleet installation expected by mid-2027. The company is also transitioning to an eight-bank schedule at its Hub of the Americas® starting March 2027 to enhance connectivity and efficiency. For the full year 2026, Copa Holdings updated its outlook to an operating margin between 17% and 19%, with a capacity increase of 14% to 15%.