Panama City Tocumen remains a crucial fortress for Copa Airlines

Premium Analysis

Panama's Copa Airlines has built its business on a defensible hub at the country's main airport, Tocumen International, and that strategy shows no signs of weakening in a post-pandemic environment. Copa posted an operating margin of 15.2% for 2022, which was a year of rebuilding for the airline, and work continues on the rebuilding of its hub at Panama City Tocumen International airport.

Copa is planning capacity growth of 12% to 14% for 2023, which is slightly lower than a previous forecast of 15% due to delays in aircraft deliveries.

Of course, Copa faces the same headwinds as other airlines, including supply chain constraints and oil price volatility.

But the airline's margins continue to be impressive, and Copa seems well prepared both to weather future challenges and to maintain its competitive edge.

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