Latin American carrier, Copa Holdings, S.A. (CPA - Free Report) , posted a substantial rise in traffic for August. Traffic — measured in revenue passenger miles (RPMs) — came in at 1.82 billion, up 16% on a year-over-year basis.
Consolidated capacity (or available seat miles/ASMs) expanded 14.2% to 2.13 billion. As the increase in traffic outpaced growth in capacity, the load factor (percentage of seats filled by passengers) improved 140 basis points (bps) to 85.1% in the same month.
For the first eight months of 2017, Copa Holdings generated RPMs of 13.24 billion (up 13.3% year over year) and ASMs of 15.92 billion (up 8.5%). Load factor registered growth of 350 bps year over year to 83.1%, during the period.
Markedly, Copa Holdings, like its fellow Latin American carrier GOL Linhas (GOL - Free Report) , is benefiting from an improved Latin American economy. Evidently, the stock has performed well this year. The company has gained 45.5%, outperforming its industry’s rally of 10.4% on a year-to-date basis.
Zacks Rank & Stocks to Consider
Copa Holdings carries a Zacks Rank #3 (Hold). Better-ranked stocks in the airline space includeRyanair Holdings (RYAAY - Free Report) and SkyWest (SKYW - Free Report) , each holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Shares of Ryanair and SkyWest have gained more than 28% and 9%, respectively, on a year-to-date basis.
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