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

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.