COPA Holdings revenue up 12%, profits surge in 3Q2010

COPA Holdings revenue up 12% - financial highlights for the three months ended 30-Sep-2010:

• Operating revenue: USD362.0 million, +11.8% year-on-year;
• Operating costs: USD291.3 million, +4.8%;
  • Fuel: USD91.8 million, +13.6%;
  • Labour: USD45.1 million, +15.4%;
• Operating profit: USD70.7 million, +54.1%;
• Net profit: USD63.9 million, +48.2%;
• Passenger numbers: 1.6 million, +10.2%;
• Load factor: 75.5%, -0.3 ppt;
  • COPA: 75.8%, -1.1 ppt;
  • COPA Airlines Colombia: 73.8%, +3.6 ppts;
• Breakeven load factor: 60.9%, +1.2 ppt;
  • COPA: 57.7%, -0.4 ppt;
  • COPA Airlines Colombia: 76.0%, +10.4 ppts;
• Yield: USD 15.7 cents, -1.5%;
  • COPA: USD 15.1 cents, -0.2%;
  • COPA Airlines Colombia: USD 19.3 cents, -6.4%;
• Revenue per ASM: USD 12.5 cents, -1.9%;
  • COPA: USD 12.2 cents, -1.8%;
  • COPA Airlines Colombia: USD 15.5 cents, -1.4%;
• Cost per ASM: USD 10.1 cents, -7.9%;
  • COPA: USD 9.4 cents, -4.2%;
  • COPA Airlines Colombia: USD 15.3 cents, -15.5%;
• Cost per ASM excl special charges and fuel: USD 6.9 cents, -4.0%;
  • COPA: USD 6.4 cents, -3.7%;
  • COPA Airlines Colombia: USD 11.3 cents, +1.7%;
• FY2011 outlook:
  • Capacity (ASM): +17% to +19%;
  • Average load factor: 74%;
  • Revenue per ASM: USD 11.8 cents;
  • Cost per ASM excl fuel: USD 6.4 cents;
  • Operating margin: 18% to 20%. [more]

COPA Holding: "Based on the company's year to date results, and expectations for 4Q2010, we are maintaining our full year capacity, load factor, RASM and CASM ex-fuel guidance. Additionally, we are adjusting operating margin guidance from a 19-21% range in our previous guidance to +/-19%. Our full year fuel price assumption increases from USD2.35 to USD2.40 per gallon," Company statement. Source: COPA, 11-Nov-2010.