Copa Airlines has reported a 11.4% decline in total revenue to $595.5 million for the first quarter of 2020, with an expected operating profit of $98.7 million and operating margin of approximately 16.6%. The Brazilian airline has confirmed that it has approximately $1.13bn in cash, cash equivalents, and short-term and long-term investments. In March 2020, Copa borrowed $145 million from unsecured loan facilities, each of which must be repaid in a single instalment no later than March 2021. The company is now negotiating adding a new $150 million unsecured, revolving credit facility. Copa is also privately offering $350 million convertible

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