Copa Q2 operating profit grows to $131m

Washington DC
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Panama's Copa Airlines has grown its second quarter operating profit 34.3% to $131 million.

The Star Alliance carrier's revenues rose 13.8% to $674 million and expenses grew 9.7% to $542 million.

Copa's second quarter net profit was up 58.7% to $118 million.

Passenger unit revenues rose 4.3% to 12.8 cents, while cost per available seat mile excluding fuel declined 0.9% to 6.6 cents.

Copa's traffic grew 12.7% in the quarter while capacity was up 9.7%, for a two percentage point hike in the load factor to 77.3%.

The airline signed a letter of intent in July to lease three new Boeing 737-800s, and plans to take delivery of the aircraft in August, October and November 2015.

Copa took delivery of two 737-800s in the second quarter, it says. It ended the period with a fleet of 93 aircraft.