8 May 2014
Copa Holdings, S.A. (NYSE: CPA) said it has reported net income of USD151.4m for the first quarter of 2014, or diluted earnings per share of USD3.41.
Excluding special items, Copa Holdings would have reported an adjusted net income of USD153.6m, or USD3.46 per share, a 23.5 percent increase over adjusted net income of USD124.4m and USD2.80 per share for the prior year´s quarter.
Operating income for the period came in at USD177.0m, a 24.1 percent increase over operating income of USD142.6m in 1Q13. Operating margin for the period came in at 24.8 percent, compared to 22.2 percent in 1Q13, as a result of higher unit revenues and lower unit costs.
Total revenues increased 11.3 percent to USD713.6m. Yield per passenger mile increased 0.5 percent to 17.7 cents and operating revenue per available seat mile increased 1.9 percent to 14.2 cents. Furthermore, adjusting for a 3.7 percent increase in length of haul, yields and RASM increased 2.3 percent and 3.7 percent, respectively.
Copa Holdings is a leading Latin American provider of passenger and cargo services. For more information visit: www.copaair.com.