Copa Holdings (CPA) November Traffic Rises From 2022 Levels
Copa Holdings, S.A.CPA reported solid traffic numbers for November on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in November on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In November, available seat miles (a measure of capacity) increased 11.9% year over year. Revenue passenger miles increased 12.4%. With traffic growth outpacing capacity expansion, the load factor (percentage of seats filled by passengers) improved to 87.4% from 87.1% in November 2022.
Impressive air traffic has led to an 18.5% appreciation in the CPA stock in the past year. This northward movement compares favorably with the 10.7% rise recorded by the Zacks Airline industry in the same time frame.
Copa Holdings currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for November.
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Brazilian carrier Azul S.A. AZUL also reported year-over-year increases in traffic and capacity for November 2023. AZUL’s consolidated revenue passenger kilometers and available seat kilometers increased 8.2% and 8.7%, respectively, on a year-over-year basis. The load factor came in at 79.2% in November 2023.
On the domestic front, revenue passenger kilometers and available seat kilometers increased 1.7% and 3.3%, year over year, respectively. The load factor came in at 78.2% in November 2023.
Internationally, revenue passenger kilometers and available seat kilometers increased 38.6% and 33.9%, respectively, on a year-over-year basis. The load factor increased to 82.5% from 79.7% in November 2022.
Ryanair HoldingsRYAAY, a European carrier, also reported solid traffic numbers for November, driven by upbeat air-travel demand. The number of passengers ferried on RYAAY flights in September was 11.7 million, implying that 4% more passengers flew than a year ago. The load factor was high at 92% in November 2023. The reading was similar in the year-ago period. RYAAY operated more than 66,400 flights in November 2023. However, more than 960 flights got canceled due to the Israel/Gaza conflict.
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