Copa Airlines Q3 operating profit rises to $148m

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Copa Airlines has posted 29% growth in its third quarter operating profit to $148 million.

The Panamanian carrier's operating revenue for the period ended 30 September rose by 15% to $677 million and operating expenses increased by 11% to $530 million.

Copa's third-quarter net income grew by 13% to $126 million. The airline's passenger traffic rose by 16% in the third quarter and capacity was up by 12%. The load factor rose by 2.6 percentage points to 78.1%.

Copa's passenger revenue per available seat mile increased by 3.4% to 13.5 cents and cost per available seat mile excluding fuel rose by 2.7% to 6.8 cents.

The airline took delivery of three Boeing 737-800s in the quarter to end it with a fleet of 89 aircraft. Copa adds it completed the extension of leases on four 737-700s that were due to expire in 2014.