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Copa Holdings (CPA) May Traffic Increases From 2022 Levels
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Copa Holdings, S.A.(CPA - Free Report) reported highly impressive traffic numbers for May 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 May on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity to meet the rising demand. In May, available seat miles (a measure of capacity) increased 15.3% year over year. Revenue passenger miles increased 15.8%. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved to 86.1% from 85.7% in May 2022.
Impressive air traffic has led to a 33.4% year-to-date appreciation in the CPA stock. This northward movement compares favorably with 21.7% growth recorded by the Zacks Airline industry in the same time frame.
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for May. Gol Linhas has also reported double-digit year-over-year increase in traffic and capacity. In May 2023, consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.1% and 14.9%, respectively, on a year-over-year basis. Load factor was 76.1%. The number of flight departures at GOL in May registered a 20.7% year-over-year increase. The consolidated passenger-on-board metric rose 20.1% year over year.
Domestic departures, accounting for more than 95% of total departures during the month, grew 19.3% on a year-over-year basis. On the domestic front, the number of seats increased 19.5% in May. International departures surged 66.9% in May on a year-over-year basis. The number of seats surged 68.9% internationally.
European carrier Ryanair Holdings (RYAAY - Free Report) also reported highly impressive traffic numbers for May, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in May was 17 million. This compared favorably with the April 2023 figure of 16 million and 15.4 million in May 2022. Owing to upbeat traffic, the load factor (percentage of seats filled by passengers) was as high as 94% in May 2023 compared with 92% a year ago. RYAAY operated more than 94,400 flights in May.
Azul S.A. (AZUL - Free Report) has also reported double-digit year-over-year increase in traffic and capacity for May 2023. With consolidated passenger traffic growth (8.3%) outpacing capacity expansion (5%), load factor increased to 79.8% from 77.3% in May 2022.
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Copa Holdings (CPA) May Traffic Increases From 2022 Levels
Copa Holdings, S.A.(CPA - Free Report) reported highly impressive traffic numbers for May 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 May on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity to meet the rising demand. In May, available seat miles (a measure of capacity) increased 15.3% year over year. Revenue passenger miles increased 15.8%. With traffic growth outpacing capacity expansion, load factor (percentage of seats filled by passengers) improved to 86.1% from 85.7% in May 2022.
Impressive air traffic has led to a 33.4% year-to-date appreciation in the CPA stock. This northward movement compares favorably with 21.7% growth recorded by the Zacks Airline industry in the same time frame.
Image Source: Zacks Investment Research
Copa Holdings currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for May. Gol Linhas has also reported double-digit year-over-year increase in traffic and capacity. In May 2023, consolidated revenue passenger kilometers (a measure of air traffic) and available seat kilometers (a measure of capacity) increased 13.1% and 14.9%, respectively, on a year-over-year basis. Load factor was 76.1%. The number of flight departures at GOL in May registered a 20.7% year-over-year increase. The consolidated passenger-on-board metric rose 20.1% year over year.
Domestic departures, accounting for more than 95% of total departures during the month, grew 19.3% on a year-over-year basis. On the domestic front, the number of seats increased 19.5% in May. International departures surged 66.9% in May on a year-over-year basis. The number of seats surged 68.9% internationally.
European carrier Ryanair Holdings (RYAAY - Free Report) also reported highly impressive traffic numbers for May, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in May was 17 million. This compared favorably with the April 2023 figure of 16 million and 15.4 million in May 2022. Owing to upbeat traffic, the load factor (percentage of seats filled by passengers) was as high as 94% in May 2023 compared with 92% a year ago. RYAAY operated more than 94,400 flights in May.
Azul S.A. (AZUL - Free Report) has also reported double-digit year-over-year increase in traffic and capacity for May 2023. With consolidated passenger traffic growth (8.3%) outpacing capacity expansion (5%), load factor increased to 79.8% from 77.3% in May 2022.