Copa Airlines boosted operating income by 25.3% to $130.7 million in the fourth quarter of 2013 compared to $104.3 million in the last three months of 2012.
The Panama-based airline reported a net income of $113.9 million in the quarter, a 31.5% increase from $86.6 million the fourth quarter of 2012.
Operating revenues in the fourth quarter totalled $697.8 million, a 16.3% rise from the same months a year earlier. Operating expenses were 14.4% higher in the fourth quarter of 2013 at $567 million.
For the full 2013 year, Copa grew operating income by 28.8% to $518.5 million. Net income in 2013 grew 31.2% to $428 million.
Operating revenues in 2013 grew 16% to $2.6 billion.
Copa's cost per available seat mile (CASM) in the fourth quarter was 11.6 cents, or a 4.5% increase from 2012. Capacity grew 9.5% in the fourth quarter.
Full year CASM for 2013 was 11 cents, or a 1.1% decline from the same months of 2012. Capacity grew 14.4% in the 2013 year.