Copa Holdings operating profit up 38% in 3Q2011

Copa Holdings revenue up 31% - financial highlights for three months ended 30-Sep-2011:

• Operating revenue: USD476.8 million, +31.3% year-on-year;
• Operating costs: USD374.7 million, +29.6%;
  • Fuel: USD145.8 million, +58.8%;
  • Labour: USD54.2 million, +21.3%;
• Operating profit: USD102.2 million, +38.2%;
• Net profit: USD70.3 million, -1.7%;
• Passenger numbers: 1.7 million, +3.8%;
• Load factor: 77.1%, +1.6 ppt;
• Breakeven load factor: 58.4%, -1.2 ppt;
• Yield: USD 17.2 cents, +9.1%;
• Passenger revenue per ASM: USD 13.2 cents, +11.4%;
• Revenue per ASM: USD 13.8 cents, +10.3%;
• Cost per ASM: USD 10.9 cents, +8.8%;
• Cost per ASM excl fuel: USD 6.6 cents, -2.6%;
• Average stage length: 1058 miles, +13.0%;
• Total assets: USD2876 million, +12.6% when compared to period ended 31-Dec-2010;
• Cash and cash equivalents: USD228.1 million, +9.8% when compared to period ended 31-Dec-2010;
• Total liabilities: USD1627 million, +12.5% when compared to period ended 31-Dec-2010;
• FY2011 forecast:
  • Capacity (ASM): +21%;
  • Average load factor: 76%, up from previous forecast of 75%;
  • RASM: USD 13.7 cents;
  • CASM excl fuel: USD 6.7 cents;
  • Operating margin: +21%, up from +19% to +21%;
• FY2012 forecast:
  • Capacity: +20%;
  • Average load factor: 74%;
  • RASM: USD 12.9 cents;
  • CASM excl fuel: USD 6.5 cents;
  • Operating margin: +18% to +20%. [more - original PR]