11-Feb-2011 12:58 PM
Copa Holdings revenue up 13%, profits jump in 4Q2010
Copa Holdings revenue up 13% - financial highlights:
- Three months ended 31-Dec-2010:
- Revenue: USD410.6 million, +13.4% year-on-year;
- Operating costs: USD321.6 million, +18.6%;
- Fuel: USD101.9 million, +31.2%;
- Labour: USD50.6 million, +15.3%;
- Operating profit: USD89.0 million, +25.8%;
- Net profit: USD92.8 million, +45.2%;
- Passenger traffic (RPMs): +18.6%;
- Load factor: 78.8%, -0.6 ppts;
- Breakeven load factor: 59.1%, -0.9 ppt;
- Yield: USD 16.5 cents, +0.7%;
- Passenger revenue per ASM: USD 13.0 cents, -0.1%;
- Revenue per ASM: USD 13.7 cents, +0.1%;
- Cost per ASM: USD 10.8 cents, -0.8%;
- Cost per ASM excl fuel: USD 7.4 cents, -5.1%;
- 12 months ended 31-Dec-2010:
- Revenue: USD1411 million, +12.6%;
- Operating costs: USD1148 million, +11.5%;
- Fuel: USD354.4 million, +17.8%;
- Labour: USD181.1 million, +14.7%;
- Operating profit: USD263.0 million, +17.8%;
- Net profit: USD212.1 million, -11.8%;
- Passenger traffic (RPMs): +13.8%;
- Load factor: 76.9%, +2.2 ppts;
- Breakeven load factor: 61.6%, +2.4 ppts;
- Yield: USD 15.9 cents, -1.1%;
- Passenger revenue per ASM: USD12.2 cents, +1.8%;
- Revenue per ASM: USD 12.9 cents, +1.9%;
- Cost per ASM: USD 10.5 cents, +0.9%;
- Cost per ASM excl fuel: USD 7.2 cents, -1.5%;
- 2011 forecast:
- Capacity (ASMs): +20%;
- Average load factor: 74%;
- Revenue per ASM: USD 12.3 cents;
- Cost per ASM excl fuel: USD 6.7 cents;
- Operating margin: +18% to +20%. [more]
Copa Holdings: "For 2011, our guidance is for consolidated capacity growth of approximately 20% as a result of the full year effect of capacity added in 2010 and the introduction of ten additional 737-800 aircraft during 2011. Load factors are expected to come in below 2010 levels as a result of strong capacity expansion; while unit revenues (RASM) are expected to decrease approximately 4% mainly as a result increased length of haul and capacity expansion," Company statement. Source: Copa Holdings, 10-Feb-2011.