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Copa Holdings' November 2025 Traffic Improves Year Over Year
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Key Takeaways
Copa Holdings' November 2025 RPM grew 10.2% year over year on robust passenger demand.
Available seat miles rose 10% in November, reflecting added capacity to meet demand.
Load factor rose to 86.2% from 86.1% in the prior 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 November 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 November.
To match the demand swell, CPA is increasing its capacity. In November, available seat miles (a measure of capacity) increased 10% year over year. RPM improved 10.2% year over year. Since traffic growth outpaced capacity expansion, the load factor (the percentage of seats filled by passengers) rose to 86.2% from 86.1% in November 2024.
Apart from Copa Holdings, other airline companies that have reported traffic numbers for October 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 November 2025.
LATAM Airlines reported a 4.6% year-over-year increase in consolidated capacity, measured in available seat-kilometers (ASK). The uptick was driven by an 11.4% increase in LATAM Airlines Brazil’s domestic capacity, and a 4% rise in international operations. Internationally, two routes were inaugurated during the month of November: Santiago (Chile) – Belo Horizonte (Brazil) and Bogota (Colombia) – Belem (Brazil).
LTM’s consolidated traffic, measured in RPK, increased 3.6% year over year in November, with the domestic market in LATAM Airlines Brazil reporting 12.1% year-over-year growth. The consolidated load factor (percentage of seats filled by passengers) for November 2025 fell to 85.4% from 86.1% in November 2024.
During the month, LATAM Airlinestransported almost 7.4 million passengers, an increase of 4.9% year over year. During the first 11 months of 2025 (between January and November), LATAM Airlines has transported 79.6 million passengers across its network.
Ryanair Holdings
European carrier,Ryanair reported solid traffic numbers for November2025, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 13.8 million in November2025, reflecting a 6% year-over-year increase. The Novemberload factor (percentage of seats filled by passengers) of 92% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services. RYAAY operated more than 78,000 flights in November2025.
Passenger volume has been robust at Ryanair, following the end of the pandemic and normalization of economic activities. With travel bookings rising across the industry, passenger revenues at Ryanair are also rising. Because of this air-travel demand strength, RYAAY's traffic grew 9% to 183.7 million passengers in fiscal 2024.
Further, we would like to remind investors that Ryanair carried 200.2 million passengers (traffic up 9% year over year) 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.
During the first half of fiscal 2026, RYAAY’s traffic grew 3% year over year to 119 million passengers. Given the aforesaid encouraging backdrops, Ryanair has unveiled its raised traffic outlook for fiscal 2026 (concurrent with its second-quarter fiscal 2026 earnings release on Nov. 3, 2025). Ryanair now expects its fiscal 2026 traffic to grow by more than 3% to 207 million passengers (prior view: 206 million), owing to earlier than expected Boeing (BA - Free Report) deliveries and solid demand during the first half of fiscal 2026.
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Copa Holdings' November 2025 Traffic Improves Year Over Year
Key Takeaways
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 November 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 November.
To match the demand swell, CPA is increasing its capacity. In November, available seat miles (a measure of capacity) increased 10% year over year. RPM improved 10.2% year over year. Since traffic growth outpaced capacity expansion, the load factor (the percentage of seats filled by passengers) rose to 86.2% from 86.1% in November 2024.
CPA currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
November 2025 Traffic of Other Airline Companies
Apart from Copa Holdings, other airline companies that have reported traffic numbers for October 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 November 2025.
LATAM Airlines reported a 4.6% year-over-year increase in consolidated capacity, measured in available seat-kilometers (ASK). The uptick was driven by an 11.4% increase in LATAM Airlines Brazil’s domestic capacity, and a 4% rise in international operations. Internationally, two routes were inaugurated during the month of November: Santiago (Chile) – Belo Horizonte (Brazil) and Bogota (Colombia) – Belem (Brazil).
LTM’s consolidated traffic, measured in RPK, increased 3.6% year over year in November, with the domestic market in LATAM Airlines Brazil reporting 12.1% year-over-year growth. The consolidated load factor (percentage of seats filled by passengers) for November 2025 fell to 85.4% from 86.1% in November 2024.
During the month, LATAM Airlinestransported almost 7.4 million passengers, an increase of 4.9% year over year. During the first 11 months of 2025 (between January and November), LATAM Airlines has transported 79.6 million passengers across its network.
Ryanair Holdings
European carrier, Ryanair reported solid traffic numbers for November2025, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 13.8 million in November2025, reflecting a 6% year-over-year increase. The Novemberload factor (percentage of seats filled by passengers) of 92% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services. RYAAY operated more than 78,000 flights in November2025.
Passenger volume has been robust at Ryanair, following the end of the pandemic and normalization of economic activities. With travel bookings rising across the industry, passenger revenues at Ryanair are also rising. Because of this air-travel demand strength, RYAAY's traffic grew 9% to 183.7 million passengers in fiscal 2024.
Further, we would like to remind investors that Ryanair carried 200.2 million passengers (traffic up 9% year over year) 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.
During the first half of fiscal 2026, RYAAY’s traffic grew 3% year over year to 119 million passengers. Given the aforesaid encouraging backdrops, Ryanair has unveiled its raised traffic outlook for fiscal 2026 (concurrent with its second-quarter fiscal 2026 earnings release on Nov. 3, 2025). Ryanair now expects its fiscal 2026 traffic to grow by more than 3% to 207 million passengers (prior view: 206 million), owing to earlier than expected Boeing (BA - Free Report) deliveries and solid demand during the first half of fiscal 2026.