Shares of Copa Holdings, S.A. (CPA - Free Report) gained 1.9% at the close of business on Mar 13, following the release of its impressive traffic statistics for February. Traffic, measured in revenue passenger miles (RPMs), was 1.63 billion, up 10.6% from the year-ago figure.
On a year-over-year basis, consolidated capacity (or available seat miles/ASMs) improved 7.7% to 1.96 billion. Load factor (% of seats filled by passengers) also expanded 210 basis points (bps) to 83.1% in February as traffic growth outpaced capacity.
In the first two months of 2018, the carrier generated RPMs of 3.45 billion (up 8% year over year) and ASMs of 4.13 billion (up 6.5%). Load factor registered a rise of 120 bps year over year to 83.6% during the period.
Last month, the company reported fourth-quarter earnings numbers. The carrier performed well, outperforming revenues and earnings estimates. Moreover, the bottom line surged 66.2% year over year. Also, quarterly revenues improved 12.4% on a year-over-year basis. High passenger revenues bolstered the top line.
Zacks Rank & Key Picks
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the airline space are International Consolidated Airlines Group SA (ICAGY - Free Report) , American Airlines Group, Inc. (AAL - Free Report) and Delta Air Lines, Inc. (DAL - Free Report) . While International Consolidated Airlines sports a Zacks Rank #1 (Strong Buy), American Airlines and Delta Air Lines carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of International Consolidated Airlines, American Airlines and Delta Air Lines rallied more than 28%, 36% and 22%, respectively, in a year.
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