Copa Holdings, the parent of Panama-based Copa Airlines, said its fourth-quarter net profit rose 10.6 percent to USD$104.4 million, boosting the company's 2011 net profit to USD$310.4 million, a 28.8 percent increase over 2010.
The company, which also operates Copa Airlines Colombia, reported earnings per share of USD$2.36 for the quarter and USD$6.98 for the year.
The results compare to USD$94.4 million for the quarter a year earlier and USD$241.1 million for 2010.
Benefitting as the main carrier at Panama's strategically located airport, which is increasingly used as a hub for travel throughout Latin America, Copa's consolidated passenger traffic grew 15.6 percent in the fourth quarter.
International traffic growth climbed 21.7 percent, the company said.
Added capacity and higher prices pushed Copa's fuel expenses up by 45.7 percent in the quarter.