Regional covid-19 surge pounds Copa’s bottom line

 
911Views 6Comments Posted 06/05/2021

The upturn in positive covid-19 cases in the region has limited the recovery of airlines, and  Copa Holdings, the company that controls Copa Airlines and Wingo, posted a loss of $10.7 million or $2.68 per share during the first three months of 2021.

The company had revenue of $185.7 million, a 68% decrease compared to the $595.5 million reported in the same first quarter of last year, when the health crisis and travel restrictions began to be felt.

This year Copa Airlines has received 6 Boeing 737 MAX 9s and ended the first quarter with a total fleet of 81. In the last year, the company has sold its fleet of smaller aircraft to focus on the Boeing 737-800 and MAX 9.

The company acknowledges that the rebound in positive cases in the region in 2021 caused countries such as Cuba, Brazil, Venezuela and Chile to establish new measures that affected the airline sector.

"The pace of recovery of international travel within Latin America is still significantly hampered by travel restrictions and health requirements due to the Covid-19 pandemic," the company reported.

The numbers reported by Copa Holdings did not exceed market expectations, which projected revenue of $187.9 million and a loss per share of $2.21 per share, according to estimates by the firm Zacks.



Comments 6

user
Brian

Realize the PURE EVIL these covidEVIL-FREAKS endorse such as harleyrider, captain, observer, sral, ajd and the rest of this evil group of scum so that you know the evil they represent, support, and align themselves with the 4th Reicht! You are either for humanity at this point or against humanity and these covidSCUM are the enemy of humanity. They have shown this over and over as those that denied the last holocaust. Remember these evil scumbags are the same colluders who supported Nazis...it took evil individuals to spread their lies, deception, fraud and propaganda to allow mass murders and genocide! These guilty extremely evil covidSCUM raise their right hand proudly to salute and support the 4th Reicht obediently! Do not ever forget their collusion in this genocide as they are against humanity, evil and demonic scum of the earth! | There is no disinformation below covidscum captain only the covidSCUM who are guilty of perpetrating these crimes just read what they write about me. They want everyone silenced and censored. Sorry covidSCUM the truth is reaching the world and I know that angers you delusional sickos. These same covidSCUM drive alone wearing two masks, I wonder if they lie in bed alone wearing a condom? LOL LOL THESE COVIDSCUMbags are so sick suffering an emotion pandemic and delusional psychoses! Haha you sicko covidSCUM!

1 month ago
user
Flat Rabbit

You are speaking only for yourself Brian and, anyway, nobody wants to to fly with viral hosts like you.

1 month ago
user
Captain

Nothing new in vaccination cards...these yellow coloured booklets are still around. For example if visiting Thailand you needed and may still do (as haven’t checked recently ) a yellow fever stamp that you have been vaccinated before Thailand will let you in if your origin boarding was Panama. I have a book full of jabs for different vaccinations as this was common procedure before many of these diseases were either eliminated (smallpox) or at least controlled. Snowflake generation better get used to it.

1 month ago
user
Brian

Already calls for "vaccine passports" to not be allowed or run side by side with those who do have it by airline industry as they realize billions of people will refuse to fly! HAHA LOL people are not going along with their horse manure!

1 month ago
user
Sinbad

Copa needs to cut it's staff to bare bones and look to compete in markets other than Latin America. Copa has to become a budget airline to survive. With vaccine passports becoming the norm and half the population refusing the vaccine there will be very little air travel. Businesses have seen that zoom calls work well and they can save a fortune on airfare and hotels by not having in person business meetings. The new normal includes nobody coming to Panama.

1 month ago
user
Sinbad

Copa needs to cut it's staff to bare bones and look to compete in markets other than Latin America. Copa has to become a budget airline to survive. With vaccine passports becoming the norm and half the population refusing the vaccine there will be very lityle air travel. Businesses have seen that zoom calls work well and they can save a fortune on airfare and hotels by not having in person business meetings. The new normal includes nobody coming to Panama.

1 month ago
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