Copa’s net profits soar, lowers capacity guidance following Venezuela-Panama flight suspensions

Copa Airlines’ parent Copa Holdings’ net profit in the second quarter of the year was $120.3 million, soaring from $17.5 million in the same period last year. The company’s revenues climbed 10.8% over last year to $3.3bn. Its total operating expenses were up 7.4% to $660 million. While fuel climbed 15% to $246 million, it recorded a decrease of 65.4% in maintenance, materials and repairs expense down to $10.9 million. Operating profit was down 18.1% to $159.5 million, when compared to the second quarter last year. The company’s load factor was up 0.7 percentage point to 86.8%, while its capacity