Copa Q3 net income grows 59%

Washington DC
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Panama's Copa Airlines has reported a 59.1% growth in net income to $112 million for the third quarter.

Operating revenues rose 24.5% to $590 million for the three months ended 30 September, while operating expenses grew 27% to $476 million.

Copa's operating income grew 14.9% to $114 million.

The Star Alliance carrier's passenger revenue per available seat mile fell 1.1% to 13 cents, and its cost per available seat mile excluding fuel declined 0.2% to 6.6 cents. Yields were up 1,1% to 17.3 cents.

Passenger traffic was up 23.8% during the quarter, and capacity grew 26.6%. The airline's load factor declined 1.7 percentage point to 75.4%.

The airline took delivery of two Boeing 737-800s during the quarter, ending the three months with a fleet of 82 aircraft.