Copa Holdings: Flying High Over Latin America

Copa Holdings (CPA) is the parent of Copa Airlines and Aero Republica which provide airline service throughout Latin America. Second quarter financials came in with what could probably be called outstanding results in the face of the increased fuel prices encountered during the quarter.

Fuel cost increased $37 million (56% increase in price per gallon) over Q2, 2007, more than the net income left of $30.4 million. In testament to Copa’s growth, the net income is essentially equal to the Q2, 2007 results and provide earnings of 70¢ per share for the quarter. The fuel cost penalty shows up when comparing to the 1st quarters net of 91¢ per share.