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Copa Holdings (CPA) February Traffic Rises From 2023 Levels
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Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for February 2024 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 February on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In February, available seat miles (a measure of capacity) increased 17% year over year. Revenue passenger miles increased 17.5%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 86.3% from 85.9% in February 2023.
Impressive air traffic has led to a 14% appreciation in the CPA stock in the past year. This northward movement compares favorably with the 11.2% rise 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 only airline to report impressive traffic numbers for February. Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, implying that 5% more passengers flew than a year ago. The load factor was high at 92% in February 2024. The reading was similar in the year-ago period. RYAAY operated more than 63,000 flights in February 2024. However, more than 800 flights got canceled due to the Israel/Gaza conflict.
GATX has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 6.1% upward over the past 90 days. GATX has an expected earnings growth rate of 3.68% for 2024. Shares of GATX have gained 19.5% in the past year.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 11.1% over the past 90 days. Shares of SKYW have surged 222.2% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average.
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Copa Holdings (CPA) February Traffic Rises From 2023 Levels
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for February 2024 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 February on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In February, available seat miles (a measure of capacity) increased 17% year over year. Revenue passenger miles increased 17.5%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 86.3% from 85.9% in February 2023.
Impressive air traffic has led to a 14% appreciation in the CPA stock in the past year. This northward movement compares favorably with the 11.2% rise 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 only airline to report impressive traffic numbers for February. Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for February 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 11.10 million, implying that 5% more passengers flew than a year ago. The load factor was high at 92% in February 2024. The reading was similar in the year-ago period. RYAAY operated more than 63,000 flights in February 2024. However, more than 800 flights got canceled due to the Israel/Gaza conflict.
Zacks Rank and Stocks to Consider
CPA currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Zacks Transportation sector are GATX Corporation (GATX - Free Report) and SkyWest, Inc. (SKYW - Free Report) . Each stock presently carries a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
GATX has an encouraging track record with respect to earnings surprise, having surpassed the Zacks Consensus Estimate in three of the last four quarters (missing the mark in the remaining one). The average beat is 16.47%.
The Zacks Consensus Estimate for 2024 earnings has been revised 6.1% upward over the past 90 days. GATX has an expected earnings growth rate of 3.68% for 2024. Shares of GATX have gained 19.5% in the past year.
SkyWest's fleet-modernization efforts are commendable. The Zacks Consensus Estimate for SKYW’s 2024 earnings has improved 11.1% over the past 90 days. Shares of SKYW have surged 222.2% in the past year.
SKYW has an expected earnings growth rate of more than 100% for 2024. SKYW delivered a trailing four-quarter earnings surprise of 128.02%, on average.