November 9, 2011
Copa Holdings, the parent of Panama-based Copa Airlines, said on Tuesday its third-quarter net income fell 1.7 percent to USD$70.3 million.
The results compared with net income of $71.5 million a year earlier.
Despite a nearly 38 percent rise in the effective cost of jet fuel, quarterly revenue rose 31.3 percent and there also were stronger operating margins due to higher load factors and yields.
The company raised its operating margin outlook for 2011 to about 21 percent from a previous view of between 19 and 21 percent. Copa said its preliminary outlook for operating margin in 2012 is between 18 percent and 20 percent.
