Copa reports almost $90 million profit for Q4 2022

Copa Holdings, the parent company of Americas-based carrier Copa, has reported a net profit of $88.3 million for the fourth quarter of 2022 (Q4 2022). The profit, which equated to $2.23 per share, would have been over $177 million were it not for “the continued effect of high fuel prices as well as the negative mark-to-market effect of the company’s convertible notes”. For the full year 2022, the company reported a net profit of $348.1 million or $8.58 per share, as well as an operating profit of  $450.4 million and an operating margin of 15.2%, compared to an adjusted operating