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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.

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