Copa Holdings reports sharp profit declines in 4Q and 2015

Copa Holdings revenue down 19% - financial highlights:

• Three months ended 31-Dec-2015:
• • Total operating revenue: USD532.6 million, -18.6% year-on-year;
  • • Passenger: USD512.1 million, -19.1%;
    • Cargo, mail and other: USD20.5 million, -3.2%;
  • Total operating costs: USD493.5 million, -10.7%;
  • • Aircraft fuel: USD136.9 million, -29.5%;
    • Labour: USD70.4 million, -13.7%;
  • Operating profit: USD39.1 million, -61.6%;
  • Net profit: USD1.9 million, -92.6%;
  • Passenger numbers: 2.1 million, +5.3%;
  • Load factor: 74.8%, -0.3 ppt;
  • Yield: USD 12.5 cents, -20.4%;
  • Passenger revenue per ASM: USD 9.3 cents, -20.7%;
  • Revenue per ASM: USD 9.7 cents, -20.2%;
  • Cost per ASM: USD 9.0 cents, -12.4%;
  • Cost per ASM excl fuel: USD 6.5 cents, -2.4%;
  • Average stage length: 1222 miles, -0.8%;
  • Average aircraft utilisation: 10.7 hours, -1.6%;
• 12 months ended 31-Dec-2015:
• • Total operating revenue: USD2250 million, -16.8%;
  • • Passenger: USD2167 million, -17.3%;
    • Cargo, mail and other: USD83.3 million, -2.2%;
  • Total operating costs: USD1984 million, -9.2%;
  • • Aircraft fuel: USD602.8 million, -26.6%;
    • Labour: USD289.5 million, -3.2%;
  • Operating profit: USD266.1 million, -48.9%;
  • Net profit: USD185.4 million, -48.7%;
  • Passenger numbers: 7.9 million, +1.0%;
  • Load factor: 75.2%, -1.4 ppt;
  • Yield: USD 13.3 cents, -19.3%;
  • Passenger revenue per ASM: USD 10.0 cents, -20.8%;
  • Revenue per ASM: USD 10.4 cents, -20.3%;
  • Cost per ASM: USD 9.2 cents, -13.0%;
  • Cost per ASM excl fuel: USD 6.4 cents, -3.0%;
  • Average stage length: 1236 miles, +1.9%;
  • Average aircraft utilisation: 10.8 hours, -1.7%;
  • Total assets: USD4166 million;
  • Cash and cash equivalents: USD202.7 million;
  • Total liabilities: USD2164 million. [more - original PR]