Copyright Photo: Copa Airlines Boeing 737-9 MAX 9 HP-9927CMP (msn 44189) (Panama – Live For More) YYZ (TMK Photography). Image: 962501.
Copa Airlines, a subsidiary of Copa Holdings, S.A., and a member of the global Star Alliance airline network, announced their expansion plans for 2023.
The airline announced their plans for expansion in 2023 and its contributions to Panama’s growth at a special event in Panama City, Panama hosted by Pedro Heilbron, CEO of Copa Airlines.
This year’s planned initiatives focus on strengthening the Hub of the Americas®, it’s primary connection center in the region, by increasing its network of destinations and flight frequencies, as well as growing and improving its fleet of aircraft.
“Copa Airlines has been investing in Panama for more than 75 years, which has helped us become the leading airline in the region, turning the Hub of the Americas® into Latin America’s preferred connection by facilitating connectivity and contributing in boosting the economic, social, and tourism sectors of both Panama and Latin America. To remain sustainable and thrive in the current complex and competitive environment, the airline seeks to boost its growth, generate jobs, and increase our direct contributions to the country’s economy,” said Pedro Heilbron, Chief Executive Officer at Copa Airlines.
As part of their 2023 plans, Copa Airlines confirmed the recent addition of 15 new Boeing 737 MAX aircraft, an investment of $2.1 billion, to their latest order. These aircraft are additions to the existing 2015 order and are expected to be delivered within the next 5 years.
In 2023, the airline expects to receive six additional Boeing 737 MAX 9s, bringing its current fleet to a total of 99 airplanes, comprising 32 Boeing 737 MAX 9s, 58 Boeing 737 800 NGs, and 9 Boeing 737-700 NGs.
Copa Airlines is also planning to refurbish the training fleet of the Latin American Aviation Academy (ALAS) by acquiring 8 new Diamond DA40/42 airplanes. The aircraft will be equipped with cutting-edge technology, which will facilitate the learning process while adhering to the highest safety standards. In addition, these airplanes are eco-friendly, consuming up to 50% less fuel than the ones being replaced, ensuring a greener and more sustainable future for the airline industry.
Copa Airlines also announced the acquisition of a fifth flight simulator Boeing 737 MAX to enhance the training of its pilots. This new addition will increase the airline’s training capacity needed to help meet the growing demands of Copa Airlines.
Strengthen and increase Panama’s connectivity
During the first quarter of 2023, Copa Airlines will introduce three new destinations including Baltimore and Austin in the United States, and Manta in Ecuador, for a total of 80 destinations in 33 countries throughout the Americas. The airline’s international connectivity surpasses that of other hubs in the region, making it a competitive advantage for Panama. The Hub of the Americas® plays a strategic role in the country’s economy, and its unique connectivity has attracted airlines from around the world to complement their flights to the Central American country.
By incorporating three new routes and increasing flight frequencies to a variety of destinations, Copa Airlines estimates an 11% growth in the number of passengers in 2023 compared to 2022. At the end of 2023, it expects to transport 16.1 million passengers while operating 328 daily flights, exceeding pre-pandemic levels.
Increase tourism in Panama and contribute to the economic and social growth of the country
Copa Airlines will continue to implement successful initiatives that promote tourism and economic growth in Panama, such as the “Panama Stopover” program, which encourages in-transit passengers to spend a few days in the country. Since 2019, the program has attracted more than 260,000 visitors, and it is estimated that over 115,000 tourists will take advantage of the Panama Stopover in 2023.
In addition, Copa continues to market promotional fares to Panama through the “Irresistible Panama” initiative, which accomplished a visitor increase of 27% onboard the airline’s flights. It also contributed to the promotion and publicity of the country through its social media channels, copa.com, and other advertising spaces owned by the brand such as Panorama, Copa’s onboard magazine.
At the same time, the airline’s growth will continue to positively benefit the production and progress of local businesses since 100% of the products used onboard Copa flights are 100% Panamanian for the enjoyment of millions of passengers that travel with the airline throughout the continent. Currently, small Panamanian businesses such as Café Rogusta, Comercializadora Nico and F&F Foods, are the primary providers of products available onboard Copa flights.
Copa Airlines aircraft photo gallery:
Copa Holdings, S.A. (Copa Airlines) has announced financial results for the fourth quarter of 2022 (4Q22) and the full year of 2022.
The following financial information, unless otherwise indicated, is presented in accordance with International Financial Reporting Standards (IFRS). See the accompanying reconciliation of non-IFRS financial information to IFRS financial information included in the financial tables section of this earnings release. Unless otherwise stated, all comparisons with prior periods refer to the fourth quarter of 2019 (4Q19) (which the Company believes are more relevant than year-over-year comparisons due to the significant impact of the COVID-19 pandemic in 2020 and 2021).
OPERATING AND FINANCIAL HIGHLIGHTS
Subsequent Events
| Consolidated Financial & Operating Highlights | 4Q22 | 4Q19 (2) | Variance vs. 3Q19 | 3Q22 | Variance vs. 2Q22 | FY22 | FY19 (2) | Variance vs. YTD19 |
| Revenue Passengers Carried (000s) | 2,813 | 2,633 | 6.9 % | 2,755 | 2.1 % | 10,334 | 10,474 | -1.3 % |
| Revenue Passengers OnBoard (000s) | 4,262 | 3,838 | 11.1 % | 4,190 | 1.7 % | 15,724 | 15,424 | 1.9 % |
| RPMs (millions) | 5,639 | 5,244 | 7.5 % | 5,508 | 2.4 % | 20,779 | 21,303 | -2.5 % |
| ASMs (millions) | 6,509 | 6,149 | 5.9 % | 6,344 | 2.6 % | 24,430 | 25,113 | -2.7 % |
| Load Factor | 86.6 % | 85.3 % | 1.4 p.p. | 86.8 % | -0.2 p.p. | 85.1 % | 84.8 % | 0.2 p.p. |
| Yield (US$ Cents) | 15.1 | 12.5 | 20.4 % | 14.1 | 7.5 % | 13.6 | 12.3 | 10.8 % |
| PRASM (US$ Cents) | 13.1 | 10.7 | 22.4 % | 12.2 | 7.3 % | 11.6 | 10.4 | 11.1 % |
| RASM (US$ Cents) | 13.7 | 11.1 | 23.4 % | 12.8 | 7.2 % | 12.1 | 10.8 | 12.6 % |
| CASM (US$ Cents) | 10.3 | 10.8 | -4.6 % | 10.5 | -1.8 % | 10.3 | 9.4 | 9.5 % |
| Adjusted CASM (US$ Cents) (1) | 10.3 | 9.3 | 10.3 % | 10.5 | -1.8 % | 10.3 | 9.0 | 13.8 % |
| CASM Excl. Fuel (US$ Cents) | 6.1 | 8.0 | -23.9 % | 5.9 | 3.4 % | 6.0 | 6.6 | -9.7 % |
| Adjusted CASM Excl. Fuel (US$ Cents) (1) | 6.1 | 6.6 | -7.0 % | 5.9 | 3.4 % | 6.0 | 6.3 | -4.6 % |
| Fuel Gallons Consumed (millions) | 77.7 | 78.9 | -1.6 % | 75.7 | 2.7 % | 291.4 | 321.4 | -9.4 % |
| Avg. Price Per Fuel Gallon (US$) | 3.52 | 2.16 | 63.1 % | 3.81 | -7.5 % | 3.60 | 2.16 | 66.9 % |
| Average Length of Haul (miles) | 2,005 | 1,992 | 0.7 % | 1,999 | 0.3 % | 2,011 | 2,034 | -1.1 % |
| Average Stage Length (miles) | 1,266 | 1,279 | -1.0 % | 1,265 | 0.1 % | 1,275 | 1,288 | -1.0 % |
| Departures | 32,112 | 32,441 | -1.0 % | 31,484 | 2.0 % | 120,155 | 131,819 | -8.8 % |
| Block Hours | 104,822 | 105,620 | -0.8 % | 102,027 | 2.7 % | 390,639 | 431,749 | -9.5 % |
| Average Aircraft Utilization (hours) | 11.8 | 11.3 | 4.7 % | 11.7 | 0.6 % | 11.3 | 11.4 | -0.7 % |
| Operating Revenues (US$ millions) | 890.6 | 681.9 | 30.6 % | 809.4 | 10.0 % | 2,965.0 | 2,707.4 | 9.5 % |
| Operating Profit (Loss) (US$ millions) | 219.7 | 17.8 | 1133.7 % | 143.7 | 52.9 % | 450.4 | 346.2 | 30.1 % |
| Adjusted Operating Profit (Loss) (US$ millions) (1) | 219.7 | 107.1 | 105.0 % | 143.7 | 52.9 % | 450.4 | 435.5 | 3.4 % |
| Operating Margin | 24.7 % | 2.6 % | 22.1 p.p. | 17.8 % | 6.9 p.p. | 15.2 % | 12.8 % | 2.4 p.p. |
| Adjusted Operating Margin (1) | 24.7 % | 15.7 % | 9.0 p.p. | 17.8 % | 6.9 p.p. | 15.2 % | 16.1 % | -0.9 p.p. |
| Net Profit (Loss) (US$ millions) | 88.3 | 2.7 | 3136.5 % | 115.9 | -23.9 % | 348.1 | 247.0 | 40.9 % |
| Adjusted Net Profit (Loss) (US$ millions) (1) | 177.7 | 92.1 | 93.0 % | 115.1 | 54.4 % | 335.4 | 336.3 | -0.3 % |
| Basic EPS (US$) | 2.23 | 0.06 | 3376.5 % | 2.93 | -23.8 % | 8.58 | 5.81 | 47.5 % |
| Adjusted Basic EPS (US$) (1) | 4.49 | 2.17 | 107.3 % | 2.91 | 54.5 % | 8.26 | 7.92 | 4.4 % |
| Shares for calculation of Basic EPS (000s) | 39,554 | 42,487 | -6.9 % | 39,589 | -0.1 % | 40,582 | 42,483 | -4.5 % |
Top Copyright Photo: Copa Airlines Boeing 737-9 MAX 9 HP-9912CMP (msn 44211) BFI (Brian Worthington). Image: 959983.
Copa Airlines aircraft photo gallery:
Copa Airlines has announced the launch of its new nonstop service from its Hub of the Americas® in Panama City, Panama to Austin, Texas.
The new flight will begin operations to the Austin-Bergstrom International Airport (AUS) on July 6, 2023, and will become the 15th U.S. destination for Copa Airlines.
The launch of Copa Airlines’ new Austin route in the U.S. adds to the airline’s continuous expansion efforts in North America joining fourteen other cities including Atlanta, Boston, Chicago, Denver, Fort Lauderdale/Hollywood, Las Vegas, Los Angeles, Miami, New York, Orlando, Tampa, San Francisco, and Washington.
Fleet:
In addition to the launch of the new route in Baltimore on June 28.
The Copa Airlines nonstop flight to and from Austin will operate four (4) weekly flights on Mondays, Wednesdays, Thursdays, and Saturdays, departing Panama at 9:18 a.m. (local time) and arriving at Austin-Bergstrom International Airport at 2:04 p.m. (local time). The return flight will operate on the same days, departing Austin at 3:34 p.m. (local time) and arriving back in Panama at 8:16 p.m. (local time).
Top Copyright Photo: Copa Airlines Boeing 737-9 MAX 9 HP-9911CMP (msn 44212) MIA (Tony Storck). Image: 960048.
Copa Airlines aircraft photo gallery:
Copa Airlines has announced the launch of its new service from its Hub of the Americas® in Panama City, Panama to Baltimore, Maryland, United States starting on June 28, 2023.
The launch of the new route in Baltimore, the historic “Charm City” known for having more public statues and monuments per capita than any other city in the U.S., adds to Copa’s continuous expansion of its network of routes in North America. The coastal destination joins 13 others already in operation by the Airline in the United States including Atlanta, Boston, Chicago, Denver, Fort Lauderdale, Las Vegas, Los Angeles, Miami, New York, Orlando, Tampa, San Francisco, and Washington.
In addition to Baltimore, Copa Airlines will launch a new route in South America starting June 27, connecting the Hub of the Americas® in Panama to the city of Manta, Ecuador.
Top Copyright Photo: Copa Airlines Boeing 737-9 MAX 9 HP-9912CMP (msn 44211) BFI (Brian Worthington). Image: 959983.
Copa Airlines aircraft photo gallery:
