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Ryanair Holdings PLC (RYAAY) - free report >>
Copa Holdings, S.A. (CPA) - free report >>
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Ryanair Holdings PLC (RYAAY) - free report >>
Copa Holdings, S.A. (CPA) - free report >>
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Copa Holdings (CPA) March Traffic Rises From 2023 Levels
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for March 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 March on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In March, available seat miles (a measure of capacity) increased 12.3% year over year. Revenue passenger miles increased 11.5%. The load factor (percentage of seats filled by passengers) was high at 86.5% in March 2024.
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for March. Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for March 2024, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in February was 13.60 million, implying that 8% more passengers flew than a year ago. The load factor was high at 93% in March 2024. The reading was similar in the year-ago period. RYAAY operated more than 77,000 flights in March 2024. However, more than 950 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 Air Lease Corporation (AL - Free Report) and Kirby Corporation (KEX - 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.
Air Lease has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 20.15%.
The Zacks Consensus Estimate for 2024 earnings has been revised 27.7% upward over the past 90 days. AL has an expected earnings growth rate of 29.96% for 2024. Shares of AL have gained 31.7% in the past year.
KEX has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in each of the trailing four quarters, delivering an average surprise of 5.75%.
KEX has an expected earnings growth rate of 32.80% for 2024. Shares of KEX have gained 41.6% in the past year.