Copa Holdings SA

Latest Results (04.10.2025):

Copa Holdings SA reports its financial results for the first quarter of 2025, demonstrating a modest increase in net profit compared to the same period last year. The company continues to expand its capacity and maintain robust operational performance while effectively managing its costs.

Net Profit and Earnings Per Share

Copa Holdings SA achieved a net profit of US$176.8 million, or US$4.28 per share, marking an increase of US$0.7 million compared to the first quarter of 2024.

Operating Performance

The operating profit stood at US$213.8 million with an operating margin of 23.8%, reflecting a decrease of 1.0% in operating profit and 0.4 percentage points in margin compared to 1Q24.

Capacity and Efficiency

Capacity, measured in available seat miles (ASMs), grew by 9.5% year over year. Revenue per ASM decreased by 8.1% to 11.5 cents, while operating cost per ASM excluding fuel dropped by 4.3% to 5.8 cents compared to 1Q24.

Financial Position

The company ended the quarter with approximately US$1.3 billion in cash, short-term, and long-term investments, representing 39% of the last twelve months’ revenues. Total debt, including lease liabilities, was US$1.9 billion, with an Adjusted Net Debt to EBITDA ratio of 0.5 times.

Fleet Expansion and Orders

Copa Holdings SA maintains a consolidated fleet of 112 aircraft and exercised options for six additional Boeing 737 MAX-8 aircraft, increasing the firm's outstanding order book to 57 aircraft. The company's on-time performance for the quarter was 90.8%, and the flight completion factor was 99.9%, positioning it among the industry's best.

Dividend Declaration

The Board of Directors ratified a second dividend payment of US$1.61 per share for the year, to be paid on June 13, 2025, to shareholders on record as of May 30, 2025.