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Copa Holdings' Traffic Falls, Load Factor Rises in January

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Copa Holdings, S.A. (CPA - Free Report) reported below par traffic numbers for January 2020. Consolidated traffic, measured in revenue passenger miles (RPMs), slipped 5.7% to 1.82 billion in the month. On a year-over-year basis, consolidated capacity (measured in available seat miles/ASMs) dropped 7% year over year to 2.16 billion.

The downside was caused by 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 revenues. The company’s fourth-quarter performance is likely to get impacted by this drab scenario.

Meanwhile, with traffic declining less than the amount of capacity contraction, load factor (% of seats filled by passengers) increased 120 basis points to 84.2% in January.

 

Zacks Rank & Key Picks

Copa Holdings carries a Zacks Rank #4 (Sell). Few better-ranked airline stocks are Azul SA (AZUL - Free Report) , Ryanair Holdings plc ( (RYAAY - Free Report) and Delta Air Lines (DAL - Free Report) . All three carriers sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Azul, Ryanair and Delta have rallied more than 6%, 6% and 3%, respectively, in the past three month.

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