Panama Airline Group Copa Profits Soar

May 5, 2011

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Copa Holdings, the parent of Panama-based Copa Airlines, said on Wednesday its first-quarter net income more than doubled to USD$94.4 million, helped by strong demand in passenger traffic.

The results compared with net income of USD$42.5 million in the same quarter a year earlier.

The stronger results were boosted by a robust increase in passenger traffic and average fares, the company said in a statement accompanying the quarterly earnings report.

The company also reported it expects an operating margin of between 18 percent and 20 percent for 2011.

(Reuters)