Copa reports second quarter results

Copa Holdings reported net income of US$49.9 million for 2Q18 or earnings per share (EPS) of US$1.18, as compared to net income of US$58.6 million or earnings per share of US$1.38 in 2Q17. Operating income decreased by 27/3% to US$57.1 million mainly as a result of a 4.8% increase in unit costs (CASM) due to higher fuel prices. Operating margin for 2Q18 came in at 9.0%, compared to an operating margin of 13.7% in 2Q17. For 2Q18, consolidated passenger traffic grew 13% while consolidated capacity grew 11.2%. As a result, consolidated load factor for the quarter increased 1.3 percentage points