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Delta Air Lines, Inc. (DAL) - free report >>
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Delta Air Lines, Inc. (DAL) - free report >>
Copa Holdings, S.A. (CPA) - free report >>
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Copa Holdings (CPA) Posts Robust September Traffic Numbers
Copa Holdings, S.A. (CPA - Free Report) posted a substantial rise in traffic for September. Measured in revenue passenger miles (RPMs), traffic came in at 1.59 billion, up 10.7% from 1.45 billion reported a year ago.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) climbed 8.9% to 1.9 billion. As the increase in traffic outpaced capacity growth, load factor (% of seats filled by passengers) expanded 130 basis points (bps) to 84.1% in the month.
For the first nine months of 2017, Copa Holdings generated RPMs of 14.83 billion (up 13% year over year) and ASMs of 17.82 billion (up 8.6%). Load factor registered a rise of 320 bps year over year to 83.2% during the period.
With the earnings season on, several major airline companies are scheduled to report third-quarter earnings numbers next week. American Airlines (AAL - Free Report) and Alaska Airlines (ALK - Free Report) will reveal third-quarter financial numbers on Oct 26 and Oct 25, respectively.
Copa Holdings is slated to release third-quarter 2017 results on Nov 8. Last quarter, the carrier’s earnings per share (on an adjusted basis) of $1.48 beat the Zacks Consensus Estimate of $1.42. The bottom line also comfortably surpassed the year-ago count of 51 cents. Quarterly revenues improved 16.8% year over year to $578.1 million, exceeding the Zacks Consensus Estimate of $548 million. It remains to be seen how the carrier performs in the third quarter.
Last week, Delta Air Lines (DAL - Free Report) reported third-quarter earnings numbers.The company’s earnings as well as revenues outpaced expectations, despite recent natural calamities.
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