Source: Copa

Copa Holdings, S.A. (NYSE: CPA) today released preliminary passenger traffic statistics for January 2024:

Operating Data January January % Change
2024 2023
Copa Holdings  (Consolidated)
  ASM (mm) (1) 2,273.2 2,364.1 -3.8 %
  RPM (mm) (2) 1,938.6 2,059.3 -5.9 %
  Load Factor (3) 85.3 % 87.1 % -1.8p.p.
1.  Available seat miles – represents the aircraft seating capacity multiplied by the number of miles the seats are flown.
2.  Revenue passenger miles – represents the numbers of miles flown by revenue passengers
3.  Load factor – represents the percentage of aircraft seating capacity that is actually utilized

Following the Airworthiness Directive issued by the United States Federal Aviation Administration (FAA) on January 6, the Company suspended operations of twenty-one 737 MAX9 aircraft. From January 6 to January 29, a total of 1788 flights were canceled. After undergoing the technical inspections required by the regulators, all of these aircraft have returned to Copa Airlines’ flight schedule.

Given this situation, for January 2024, Copa Holdings’ capacity (ASMs) decreased by 3.8%, while system-wide passenger traffic (RPMs) also decreased by 5.9%, compared to 2023. As a result, the system load factor for the month was 85.3%, 1.8 percentage points lower than in January 2023.