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Copa Holding revenue down 0.9%, operating profit down in 4Q2009

11-Feb-2010 3:58 PM

Copa Holding revenue down 0.9% - financial/traffic highlights:

  • Three months ended 31-Dec-2009:
    • Operating revenue: USD343.0 million, -0.6% year-on-year;
    • Operating cost: USD271.2 million, +3.5%;
      • Fuel: USD77.6 million, -15.1%;
      • Labour: USD43.9 million, +17.0%;
    • Operating profit: USD71.8 million, -14.6%;
    • Net profit: USD70.4 million, +173.5%;
    • Passenger numbers: .5 million, 13.7%;
    • Load factor: 79.4%, +5.3 ppts;
    • Breakeven load factor: 60.0%, +3.1 ppts;
    • Yield: USD 16.4 cents, -11.7%;
    • Revenue per ASM: USD 13.7 cents, -5.8%;
    • Cost per ASM: USD 10.9 cents, -1.6%;
    • Cost per ASM excl fuel: USD 7.6 cents, +5.2%;
  • 12 months ended 31-Dec-2009:
    • Operating revenue: USD1,253 million, -2.8%;
    • Operating cost: USD1,030 million, -3.3%;
      • Fuel: USD300.8 million, -25.7%;
      • Labour: USD157.9 million, +13.2%;
    • Operating profit: USD223.3 million, -0.3%;
    • Net profit: USD240.4 million, +102.6%;
    • Passenger numbers: 5.6 million, +10.5%;
    • Load factor: 74.6%, -1.3 ppt;
    • Breakeven load factor: 59.2%, -3.8 ppts;
    • Yield: USD 16.0 cents, -11.5%;
    • Revenue per ASM: USD 12.6 cents, -13.2%;
    • Cost per ASM: USD 10.4 cents, -13.7%;
    • Cost per ASM excl fuel: USD 7.2 cents, -4.1%;
  • 2010 Forecast:
    • Capacity (ASMs): +10.9%;
    • Load actor: 76%;
    • Revenue per ASM: USD 13.0 cents, +3%;
    • Cost per ASM excl fuel: USD 7.1 cents. [more]

Copa Holding: “For 2010, the Company’s guidance calls for consolidated capacity growth of approximately 10%. Load factors are expected to come in at 76%, above 2009 levels; while unit revenues (RASM) are expected to increase approximately 3% mainly as a result an improved demand environment which we expect will result in both higher load factors and yields. Unit costs excluding fuel, CASM ex-fuel, are expected to come in at 7.1 cents, slightly below 2009 levels,” Company statement. Source: Copa Holding, 10-Feb-2010.