- Net profit of
US$176 .8 million orUS$4.28 per share, aUS$0 .7 million increase compared to 1Q24. - Operating profit of
US$213 .8 million and an operating margin of 23.8%, a 1.0% and 0.4 percentage point decrease, respectively, compared to 1Q24. - Capacity, measured in available seat miles (ASMs), increased by 9.5% year over year.
- Operating cost per available seat mile excluding fuel (Ex-fuel CASM) decreased 4.3% compared to 1Q24 to
5.8 cents . - Revenue per available seat mile (RASM) decreased 8.1% compared to 1Q24 to
11.5 cents . - The Company ended the quarter with approximately
US$1.3 billion in cash, short-term and long-term investments, which represent 39% of the last twelve months’ revenues. - The Company closed 1Q25 with total debt, including lease liabilities, of
US$1 .9 billion, while the Adjusted Net Debt to EBITDA ratio ended at 0.5 times. - The Company ended the quarter with a consolidated fleet of 112 aircraft: 67 Boeing 737-800, 32 Boeing 737 MAX-9, 9 Boeing 737-700, 3 Boeing 737 MAX-8, and 1 Boeing 737-800 freighter.
Copa Holdings exercised options for six additional Boeing 737 MAX-8 aircraft expected to be delivered in 2028. This increases the Company's firm outstanding order book to 57 aircraft.Copa Airlines had an on-time performance for the quarter of 90.8% and a flight completion factor of 99.9%, once again positioning itself among the best in the industry.
Subsequent events
- On
May 7, 2025 , the Board of Directors ofCopa Holdings ratified its second dividend payment for the year ofUS$1.61 per share. Dividends will be paid onJune 13, 2025 , to shareholders on record as ofMay 30, 2025 .
Consolidated Operating and Financial Statistics | ||||||||||
| 1Q25 | 1Q24 | % Change | 4Q24 | % Change | ||||||
| Revenue Passengers Carried (000s) | 3,512 | 3,272 | 7.4 | % | 3,444 | 2.0 | % | |||
| Revenue Passengers OnBoard (000s) | 5,208 | 4,790 | 8.7 | % | 5,168 | 0.8 | % | |||
| RPMs (millions) | 6,743 | 6,127 | 10.1 | % | 6,682 | 0.9 | % | |||
| ASMs (millions) | 7,801 | 7,121 | 9.5 | % | 7,747 | 0.7 | % | |||
| Load Factor | 86.4 | % | 86.0 | % | 0.4 p.p | 86.3 | % | 0.2 p.p | ||
| Yield (US$ Cents) | 12.7 | 14.0 | (9.1 | )% | 12.5 | 2.0 | % | |||
| PRASM (US$ Cents) | 11.0 | 12.1 | (8.7 | )% | 10.8 | 2.2 | % | |||
| RASM (US$ Cents) | 11.5 | 12.5 | (8.1 | )% | 11.3 | 1.6 | % | |||
| CASM (US$ Cents) | 8.8 | 9.5 | (7.7 | )% | 8.7 | 0.8 | % | |||
| CASM Excl. Fuel (US$ Cents) | 5.8 | 6.1 | (4.3 | )% | 5.9 | (1.2 | )% | |||
| Fuel Gallons Consumed (millions) | 91.0 | 84.4 | 7.8 | % | 91.2 | (0.3 | )% | |||
| Avg. Price Per Fuel Gallon (US$) | 2.54 | 2.90 | (12.4 | )% | 2.38 | 6.6 | % | |||
| Average Length of Haul (miles) | 1,920 | 1,873 | 2.5 | % | 1,940 | (1.1 | )% | |||
| Average Stage Length (miles) | 1,260 | 1,246 | 1.1 | % | 1,260 | — | % | |||
| Departures | 37,829 | 35,220 | 7.4 | % | 37,596 | 0.6 | % | |||
| 121,611 | 112,164 | 8.4 | % | 121,549 | 0.1 | % | ||||
| Average Aircraft Utilization (hours) | 12.1 | 11.6 | 3.8 | % | 12.0 | 0.9 | % | |||
| Operating Revenues (US$ millions) | 899.2 | 893.5 | 0.6 | % | 878.6 | 2.3 | % | |||
| Operating Profit (Loss) (US$ millions) | 213.8 | 216.0 | (1.0 | )% | 203.7 | 4.9 | % | |||
| Operating Margin | 23.8 | % | 24.2 | % | -0.4 p.p | 23.2 | % | 0.6 p.p | ||
| Net Profit (Loss) (US$ millions) | 176.8 | 176.1 | 0.4 | % | 165.8 | 6.6 | % | |||
| Basic EPS (US$) | 4.28 | 4.19 | 2.2 | % | 3.98 | 7.7 | % | |||
| Shares for calculation of Basic EPS (000s) | 41,292 | 42,052 | (1.8 | )% | 41,696 | (1.0 | )% | |||
Full 1Q25 Earnings Release available for download at:
https://copa.gcs-web.com/financial-information/quarterly-results
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