Copa Holdings, S.A. (Copa Airlines and Copa Airlines Colombia) (Panama City) reported net income of $118.2 million (US) for the second quarter, or diluted earnings per share (EPS) of $2.66 (US). Excluding special items, Copa Holdings would have reported an adjusted net income of $115.9 million (US), or $2.61 per share, a 36.4% increase over adjusted net income of $85.0 million (US) and $1.92 per share for the second quarter.
Operating income for second quarter came in at $131.2 million (US), a 34.3% increase over operating income of $97.7 million (US) in the second quarter. Operating margin for the period came in at 19.5%, compared to 16.5% in the second quarter, as a result of higher unit revenues.
In other news, Copa Airlines will add two new routes, from Panama City to Campinas, Brazil and Cayo Santa Maria, Cuba.
Campinas, Brazil: Copa Airlines will offer one daily flight to Campinas, its eighth destination in Brazil. Called the “Silicon Valley” of Brazil, Campinas is home to the second largest concentration of research and development centers in the country. It is also boasts Brazil’s fourth-largest financial sector. The new flight will begin operating in December 2014.
Cayo Santa María, Cuba: Copa Airlines will offer two weekly flights to its second destination in Cuba, increasing tourist access to beautiful beaches; hotel accommodations including many “all inclusive” hotels, approximately 12,500 rooms, 5-star hotels and the the Pedraplén de Caibarién, an impressive 48km road stretching across the sea to Cayo Santa Maria, awarded the international “Puente de Alcántara” prize for best Latin American civil works. This new flight will also begin operation in December 2014.
With the addition of these new destinations, by the end of 2014 Copa Airlines will offer flights to 69 destinations in 30 countries in North, Central, and South America and the Caribbean from its Hub of the Americas at Tocumen International Airport in Panama City, Panama. The Hub of the Americas continues to offer more international flights to destinations in Latin America than any other airline.
During the first six months of 2014, Copa Airlines added four new Boeing Next Generation 737-800 aircraft equipped with the innovative Split Scimitar Winglets to its fleet, bringing its total to 94 aircraft.
During the second half of 2014, Copa will add four new high-tech Boeing 737-800 Next Generation aircraft, bringing its fleet total to 98 aircraft and increasing the number of available seats by 10 percent over 2013.
Top Copyright Photo: Jay Selman/AirlinersGallery.com (all others by Copa). Boeing 737-8V3 HP-1714CMP (msn 40891) arrives at Las Vegas.
The “Hub of the Americas”:
Routes from the Panama City hub: