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Copa Holdings' (CPA) Traffic & Capacity Fall in November
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Copa Holdings, S.A. (CPA - Free Report) reported disappointing traffic statistics for November. Consolidated traffic, measured in revenue passenger miles (RPMs), slipped 1.5% to 1.7 billion in the month. On a year-over-year basis, consolidated capacity (measured in available seat miles/ASMs) dipped 2.9% year over year to 1.99 billion.
This fall in capacity and the resultant decrease in traffic can be attributed to reduced capacity due to the extended grounding of the Boeing 737 MAX jets. The carrier with six Boeing MAX 9 jets in its fleet removed all MAX flights from its schedule through March 2020. Consequently, multiple fight cancellations are affecting its revenues.
Meanwhile, with traffic declining less than the amount of capacity contraction, load factor (% of seats filled by passengers) improved 120 basis points (bps).
In the first 11 months of 2019, the carrier generated RPMs of 19.49 billion, down 0.9% year over year, and ASMs of 22.99 billion, down 2.4%. Load factor expanded 130 bps to 84.8% in the period.
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Allegiant Travel Company (ALGT - Free Report) , Ryanair Holdings plc (RYAAY - Free Report) and Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS - Free Report) . While Allegiant and Ryanair sport a Zacks Rank #1 (Strong Buy), ControladoraVuela carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Allegiant, Ryanair and Controladora Vuela have rallied more than 74%, 22% and 97%, respectively, so far this year.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, SherazMian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
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Copa Holdings' (CPA) Traffic & Capacity Fall in November
Copa Holdings, S.A. (CPA - Free Report) reported disappointing traffic statistics for November. Consolidated traffic, measured in revenue passenger miles (RPMs), slipped 1.5% to 1.7 billion in the month. On a year-over-year basis, consolidated capacity (measured in available seat miles/ASMs) dipped 2.9% year over year to 1.99 billion.
This fall in capacity and the resultant decrease in traffic can be attributed to reduced capacity due to the extended grounding of the Boeing 737 MAX jets. The carrier with six Boeing MAX 9 jets in its fleet removed all MAX flights from its schedule through March 2020. Consequently, multiple fight cancellations are affecting its revenues.
Meanwhile, with traffic declining less than the amount of capacity contraction, load factor (% of seats filled by passengers) improved 120 basis points (bps).
In the first 11 months of 2019, the carrier generated RPMs of 19.49 billion, down 0.9% year over year, and ASMs of 22.99 billion, down 2.4%. Load factor expanded 130 bps to 84.8% in the period.
Copa Holdings, S.A. Price
Copa Holdings, S.A. price | Copa Holdings, S.A. Quote
Zacks Rank & Key Picks
Copa Holdings carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the same space are Allegiant Travel Company (ALGT - Free Report) , Ryanair Holdings plc (RYAAY - Free Report) and Controladora Vuela Compania de Aviacion, S.A.B. de C.V. (VLRS - Free Report) . While Allegiant and Ryanair sport a Zacks Rank #1 (Strong Buy), ControladoraVuela carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Shares of Allegiant, Ryanair and Controladora Vuela have rallied more than 74%, 22% and 97%, respectively, so far this year.
Free: Zacks’ Single Best Stock Set to Double
Today you are invited to download our latest Special Report that reveals 5 stocks with the most potential to gain +100% or more in 2020. From those 5, Zacks Director of Research, SherazMian hand-picks one to have the most explosive upside of all.
This pioneering tech ticker had soared to all-time highs and then subsided to a price that is irresistible. Now a pending acquisition could super-charge the company’s drive past competitors in the development of true Artificial Intelligence. The earlier you get in to this stock, the greater your potential gain.
See 5 Stocks Set to Double>>