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United Airlines Holdings Inc (UAL) - $25 value - yours FREE >>
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Copa Holdings (CPA) April Traffic Increases From 2022 Levels
Copa Holdings (CPA - Free Report) reported highly impressive traffic numbers for the month of April on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in April on a year-over-year basis.
To match the demand swell, CPA is increasing capacity. In April, available seat miles (a measure of capacity) increased 15% year over year. Revenue passenger miles increased 15.6%. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved to 85.3% from 84.9% in April 2022.
Impressive air-traffic has led to a 14% year-to-date appreciation in the CPA stock. This northward movement compares favorably with the 6.6% growth recorded by the Zacks Airline industry in the same time frame.
Image Source: Zacks Investment Research
Given the buoyant traffic scenario, Copa Holdings is not the sole Latin American carrier to report impressive traffic numbers for April. Gol Linhas has also reported double digit year-over-year increase in traffic and capacity. With traffic growth (13.6%) outpacing capacity expansion (12.5%), load factor increased to 78.9% from 78.2% in April 2022. The number of passengers ferried on GOL flights increased 19% year over year in April.
Zacks Rank & Another Stock to Consider
Copa Holdings currently sports a Zacks Rank #1 (Strong Buy) while Gol Linhas carries a Zacks Rank # 2 (Buy).
Investors interested in the Zacks Airline industry may also consider United Airlines (UAL - Free Report) . UAL also currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
United Airlines is seeing steady recovery in domestic and international air-travel demand. Owing to robust air-travel demand, UAL expects revenues for the June quarter to grow 14-16% year over year.
For 2023, United Airlines expects capacity to be in the high teens. The Zacks Consensus Estimate for current-year earnings has been revised upward by more than 9% in the past 60 days.