Copa Holdings Reports Third-Quarter Financial Results

Core Insights - Copa Holdings, S.A. reported strong financial results for the third quarter of 2025, with a net profit of US$173.4 million, representing an 18.7% increase year-over-year [4][7] - The company achieved an operating margin of 23.2% and a net margin of 19.0%, reflecting improvements from the previous year [4][7] - The load factor increased to 88.0%, and capacity measured in available-seat-miles (ASM) rose by 5.8% compared to the same quarter last year [4][6] Financial Performance - Net profit for 3Q25 was US$173.4 million or US$4.20 per share, compared to US$146.0 million or US$3.50 per share in 3Q24, marking increases of 18.7% and 20.1% respectively [4][7] - Total operating revenue reached US$913.1 million, a 6.8% increase from US$854.7 million in 3Q24 [7][8] - Operating expenses totaled US$700.8 million, up 2.9% from US$681.0 million in 3Q24, with fuel costs slightly decreasing by 0.8% [7][8] Operational Metrics - The company carried 3.8 million revenue passengers in 3Q25, a 10.3% increase from 3.4 million in 3Q24 [6] - Copa Airlines maintained an on-time performance of 89.7% and a flight completion factor of 99.8%, ranking among the best in the industry [4] - The average price per fuel gallon decreased by 6.1% to US$2.44 compared to US$2.60 in 3Q24 [6][8] Fleet and Capacity - The fleet expanded to 121 aircraft by the end of September 2025, with the delivery of five Boeing 737 MAX 8 aircraft during the quarter [4] - The company expects to receive one additional aircraft before the end of the year, bringing the total to 123 aircraft [4] Cash and Investments - As of September 30, 2025, the company had approximately US$1.3 billion in cash and investments, representing 38% of the last twelve months' revenues [4] - The adjusted net debt to EBITDA ratio was 0.7 times at the end of the quarter [4] Dividend Announcement - The Board of Directors approved a fourth dividend payment of US$1.61 per share, scheduled for payment on December 15, 2025 [4]