Copa Holdings Reports Fourth-Quarter and Full-Year 2025 Financial Results

Core Insights - Copa Holdings reported strong financial results for the fourth quarter and full year 2025, showcasing industry-leading profitability and operational excellence [1][5][10]. Fourth Quarter 2025 Highlights - Net profit reached US$172.6 million, or US$4.18 per share, marking a 5.3% year-over-year increase in earnings per share [5][11]. - Operating margin was 21.8% and net margin was 17.9%, reflecting a decrease of 1.4 and 1.0 percentage points compared to 4Q24 [5][11]. - Capacity, measured in available seat miles (ASMs), grew by 9.9% year-over-year [5][8]. - Revenue per available seat mile (RASM) was 11.3 cents, a decrease of 0.3% compared to 4Q24 [5][8]. - Operating cost per available seat mile (CASM) increased by 1.6% to 8.8 cents, while CASM excluding fuel rose by 0.7% to 5.9 cents [5][8]. - The company ended the quarter with approximately US$1.6 billion in cash and investments, representing 44% of the last twelve months' revenues [5][11]. Full Year 2025 Highlights - Net profit for the year was US$671.6 million, or US$16.28 per share, an 11.9% year-over-year increase [5][11]. - Operating margin improved to 22.6% and net margin to 18.6%, up 0.8 and 1.0 percentage points respectively compared to 2024 [5][11]. - Capacity grew by 7.8% year-over-year [5][8]. - RASM for the year was 11.2 cents, down 2.6% compared to 2024 [5][8]. - CASM decreased by 3.6% to 8.6 cents, while CASM excluding fuel decreased by 0.7% to 5.8 cents [5][8]. Operational Performance - Copa Airlines achieved an on-time performance of 89.0% for the quarter and 90.75% for the year, recognized as the most on-time airline in Latin America [5][11]. - The company took delivery of four Boeing 737 MAX 8 aircraft in 4Q25, ending the year with a total fleet of 125 aircraft [5][11]. Future Developments - The Board of Directors approved a quarterly dividend payment of US$1.71 per share for 2026, with the first payment scheduled for March 13, 2026 [5][11]. - The company announced plans to offer onboard Wi-Fi starting in October 2026 [5][11].