Copa Holdings profit declines by 22%

Copa Holdings has posted a 22.4% decline in second-quarter net income to $32 million. Revenue was up however by 20.6% to $515.8 million, with expenses growing by 25.5% to $443.2 million, producing an operating profit of $72.6 million – a decline of 2.7% compared to the year-ago period. The airline flew 20.3% more passengers in the quarter to carry 2.9 billion RPMs on a 24.8% increase in capacity. Load factor dipped by 2.8 points to 73.5%.