Copa records first profit since pandemic

626Views 0Comments Posted 06/08/2021

Copa Holdings, which operates Copa Airlines and Wingo, has reported a net profit of $28.1 million or $0.66 per share, according to financial results for the second quarter of 2021.

Compared to the second quarter of 2019 - prior to the pandemic - when the net profit was $50.9 million, there was a decrease of 44.8%.

The company believes that the 2019 comparisons are more relevant than the year-over-year comparisons due to the significant impacts in 2020 of the Covid-19 pandemic. Despite the favorable result, when excluding certain special items, the company reported a net loss of $ 16.2 million. In the second quarter of 2020, the net loss was $ 114. millions.

Operating income totaled $ 304.3 million or -52.8% compared to $.1 million in the second quarter of 2019.

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