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Copa Holdings' September 2025 Traffic Improves Year Over Year

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Key Takeaways

  • Copa Holdings' September 2025 RPM grew 6.4% year over year on robust passenger demand.
  • Available seat miles rose 5.2% in September, reflecting added capacity to meet demand.
  • Load factor improved to 86.9% from 85.9% last year as traffic growth outpaced capacity.

Copa Holdings, S.A.(CPA - Free Report) , based in Panama City, Panama, is gaining from upbeat passenger volumes. The latest positive update from the Latin American carrier came when it reported robust traffic numbers for September 2025 on the back of upbeat air travel demand. Driven by high passenger volumes, revenue passenger miles (RPM: a measure of air traffic) improved on a year-over-year basis in September.

To match the demand swell, CPA is increasing its capacity. In September, available seat miles (a measure of capacity) increased 5.2% year over year. RPM improved 6.4% year over year. Since traffic outpaced capacity expansion, the load factor (the percentage of seats filled by passengers) rose to 86.9% from 85.9% in September 2024.

CPA’s Zacks Rank & Price Performance

CPA currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Shares of CPA have gained 39.7% so far this year, outperforming the 3% increase of the Zacks Airline industry.

CPA Stock YTD Price Comparison

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September 2025 Traffic of Other Airline Companies

Apart from Copa Holdings, other airline companies that have reported traffic numbers for September 2025 are LATAM Airlines Group (LTM - Free Report) and Ryanair Holdings (RYAAY - Free Report) .

LATAM Airlines

LATAM Airlines reported a year-over-year increase in revenue passenger-kilometers (RPK: a measure of air traffic) for September 2025.

LATAM Airlines reported an 8.7% year-over-year increase in consolidated capacity, measured in available seat-kilometers (ASK). The uptick was driven by a 9.6% increase in the group’s international operations and a 14% increase in LATAM Airlines Brazil’s domestic capacity.

LTM’s consolidated traffic, measured in revenue passenger-kilometers (RPK), increased 8.8% year over year, with growth across all segments. LATAM Airlines Brazil’s domestic market recorded year-over-year growth of 17%. The consolidated load factor (percentage of seats filled by passengers) for September 2025 stood at 84.2%, remaining flat on a year-over-year basis.

During the month, LATAM Airlinestransported almost 7.3 million passengers, an increase of 8% year over year. Year to date, LATAM Airlines has transported 64.5 million passengers across its network.

Ryanair Holdings

European carrier, Ryanair reported solid traffic numbers for September 2025, driven by upbeat air-travel demand.

The number of passengers transported on Ryanair flights was 19.4 million in September 2025, reflecting a 2% year-over-year increase. The September load factor (percentage of seats filled by passengers) of 94% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services.  RYAAY operated more than 107,000 flights in September 2025.

We would like to remind investors that Ryanair carried 200.2 million passengers in its fiscal year ending March 2025, positioning itself as the first European airline to reach 200 million passengers in a single year. As a result, RYAAY is now the world’s leading low-fare airline in terms of passenger traffic, with low fares and reduced costs acting as the main catalyst. 

Given this encouraging backdrop, Ryanair expects its fiscal 2026 traffic to grow 3% to 206 million passengers, due to heavily delayed Boeing (BA - Free Report) delivery delays.

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