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Copa Holdings: March capacity, traffic down significantly compared to last year

Copa Holdings: March capacity down 35.7%, passenger traffic down 43.4%

Copa Holdings, S.A., the company that through its operating subsidiaries, provides air service to 80 destinations in 33 countries in North, Central and South America and the Caribbean, today released preliminary passenger traffic statistics for March 2020:

Operating Data March March % Change FY FY % Change
2020 2019 (YOY) 2020 2019 (YOY)
Copa Holdings  (Consolidated)
  ASM (mm) (1) 1,366.6 2,126.6 -35.7% 5,490.7 6,415.4 -14.4%
  RPM (mm) (2) 1,003.4 1,771.7 -43.4% 4,473.0 5,344.9 -16.3%
  Load Factor (3) 73.4% 83.3% -9.9p.p. 81.5% 83.3% -1.9p.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

Due to the global Coronavirus outbreak, the Company has temporarily grounded its fleet since March 23rd, 2020.  As a result, Copa Holdings’ capacity (ASMs) decreased 35.7% year over year compared to March 2019, while system-wide passenger traffic (RPMs) decreased 43.4% year over year.  The load factor for the month was 73.4%, 9.9 percentage points lower than March 2019.