Copa’s 2011 profit up 29% on 22% capacity increase

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Published: February 10, 2012

Copa Airlines 737-800. Courtesy, Boeing

Copa Holdings, parent of Panama’s Copa Airlines and Copa Airlines Colombia (formerly Aero Republica), reported 2011 net income of $ 310.4 million, up 28.8% over a $ 241.1 million net profit in 2010.

The fast-growing airline company boosted consolidated 2011 capacity 21.9% year-over-year to 13.35 billion ASMs, and plans to increase capacity by another 22% in 2012. Traffic in 2011 grew 21.2% to 10.2 billion RPMs. Load factor was 76.4%, down 0.5 point.

Yield rose 7.8% to 17.1 cents while operating margin lifted 0.5 point to an impressive 21%. Owing to rising fuel prices, profit margin is expected to dip to 18%-20% in 2012.

Full-year 2011 revenue jumped 29.3% compared to 2010 to $ 1.83 billion while expenses heightened 28.4% to $ 1.45 billion, including a 54.3% rise in aircraft fuel costs to $ 546.9 million. Operating profit in 2011 was $ 384.7 million, up 32.8%.

Copa Airlines took delivery of two Boeing 737-800s during the 2011 fourth quarter. Copa Holdings ended the year with a consolidated fleet of 73 aircraft comprising 20 Boeing 737-700s, 27 737-800s and 26 Embraer E-190s.

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