Copa Holdings, S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 07, 2024 at 05:12 pm EST
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Copa Holdings, S.A. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported revenue was USD 916.93 million compared to USD 890.61 million a year ago. Net income was USD 191.78 million compared to USD 88.28 million a year ago. Basic earnings per share from continuing operations was USD 4.55 compared to USD 2.23 a year ago.
For the full year, revenue was USD 3,461.1 million compared to USD 2,965.03 million a year ago. Net income was USD 518.19 million compared to USD 348.05 million a year ago. Basic earnings per share from continuing operations was USD 12.89 compared to USD 8.58 a year ago.
Copa Holdings, S.A. is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama. Copa Airlines provides international air transportation for passengers, cargo and mail, operating from its Panama City hub in the Republic of Panama. Copa Colombia provides service within Colombia and international flights from various cities in Colombia to Panama, Venezuela, Ecuador, Mexico, Cuba, Guatemala and Costa Rica. Copa Colombia provides domestic and international air transportation for passengers, cargo and mail with a point-to-point route network. Its subsidiary, Oval Financial Leasing, Ltd., controls the special purpose entities that have a beneficial interest in the majority of its fleet.