Copa Q1 2023 profit tops pre-pandemic level

Copa Holdings reported a net profit of $121.5 million for the first quarter of 2023 (Q1 2023), up on the $89.4 million recorded in Q1 2019. The profit would have neared $160 million were it not for the unrealised mark-to-market net loss of $36.3 million which Copa said was “related to the company’s convertible notes, as well as changes in the value of financial investments”. The company said it would pay a second quarterly dividend of $0.82 per share on June 15, to all Class A and Class B shareholders on record as of May 31. The carrier’s operating profit