The air industry has been under pressure this year by rising fuel prices that have affected the profitability of operations by many airlines as well as volatility in demand for passengers in some regions.
In the second quarter of the year, Copa Holdings (the group that includes Copa Airlines and Wing) mobilized more than 4.14 million passengers, representing an increase of 14.9% as compared with the same period last year.
The financial results submitted this Thursday reveal that operational income increased 25.7% to reach $1.059 billion.
The good economic performance, however, was limited by an increased fuel cost that affected the profitability of the carrier.
The net profit was reduced 54.2%, to reach $68.2 million.
The company explained that the results reflect the strength of its business model in an environment marked by a significant increase in aviation fuel.
During the quarter, the average price per gallon of fuel amounted to $4.28, an increase of 84.8% as compared with the second quarter of 2025, while the total expenditure or invoice for aviation fuel was increased by 110%, to $449.6 million.
Despite this scenario, the airline continued to expand its operations.
The number of seats available, or capacity increased 16.5%, the employment factor was 86.7% and performance per passenger increased 8.7%.
In his first half of his term, Copas Holdings moved 8.23 million passengers, an increase of 15.8% relative to the same period last year, while his operating revenues increased 21.2% to $2.11 billion.
The net profit in the first semester retreated 13.8%, up to $280.6 million, after fuel spending increased 64%, driven by an increase of 44.8% in the average price of the gallon.
For its shareholders, the board of directors of Copa Holdings confirmed the third dividend payment of 2026 for $1.71 per share, which will be distributed on September 15 to registered shareholders at August 31.
Among the main milestones of the quarter, Copa Holdings incorporated four Boeing 737 MAX 8 aircraft, bringing its fleet to 131 aircraft.
It also had an accuracy ratio of 90.6% and an compliance with flights of 99.8%.
The company also closed its quarter with $1,543 million in cash and investments and a net debt to EBITDA ratio of 0.9 times, reflecting a strong financial position.
The company announced the transition to an increased number of operations from Tocumen International Airport from March 2027, with an aim to expand travel options and improve its fleet and infrastructure development.
