Copa Holdings this week presented its preliminary operating results for the month of April, in which a slight improvement in demand (RPM) of 0.4 pp is observed compared to March, although with a drop of 67% compared to April 2019. This includes Copa Airlines and Wingo operations.
From the company they clarified that given the «irregular nature of operations from March 2020 due to the COVID-19 pandemic», from now on the statistics will be compared with those of 2019.
Capacity (ASM) improved by two percentage points compared to March, but compared to April 2019 it fell by 61.9%.
This gave a result of 72.8% in the load factor, 11.3 percentage points less than in April 2019, but the second consecutive month in which the 70% barrier was exceeded.
According to information obtained by Aviacionline through Cirium, for the moment there is a 25.7% growth in the capacity offered by Copa Airlines in June compared to May, but with a difference of 43.9% less compared to the same month of 2019. In the case of Wingo, a drop of 8.7% in the offer is observed.
During April, Copa Airlines operated regular flights in 50 cities in America, a number that would grow to 60 as of June.
First quarter
Last week the holding company also presented its financial results for the first quarter of 2021, a period in which it recorded a net loss of USD 110.7 million, when between January and March 2020 it had obtained net profits of USD 74.3 million. Operating losses were USD 77.1 million.
Negative cash flow reached USD 23 million per month, closing the holding with an available liquidity of USD 1.5 billion, consisting of approximately USD 1.2 billion in cash, short and long-term investments, and committed and unused loans for USD 345 millions.
In the first three months of 2021, Copa Airlines received 6 new Boeing 737 MAX 9s. The holding thus ended the period with a consolidated fleet of 68 Boeing 737-800s and 13 Boeing 737 MAX 9s, a total of 21 aircraft less than last year.
