Copa Holdings reported strong traffic growth in February 2026, with capacity and passenger demand both increasing year-on-year as the Panama-based carrier continues to expand its network across the Americas.
The airline said available seat miles (ASMs) rose 15.6% to 2.76 billion in February compared with the same month in 2025, while revenue passenger miles (RPMs) increased 16.2% to 2.41 billion. The system load factor reached 87.1%, up 0.4 percentage points from the prior year.
The increase in traffic outpaced capacity growth, resulting in fuller aircraft across Copa’s network.
The latest operational data follows the airline’s strong financial performance in 2025. Copa reported full-year net profit of $671.6 million, representing an 11.9% year-on-year increase in earnings per share, with an operating margin of 22.6% and a net margin of 18.6%.
Capacity, measured in ASMs, grew 7.8% in 2025, reflecting continued expansion across Latin American markets, although revenue per available seat mile declined 2.6% during the year as yields normalised.
For the fourth quarter alone, Copa reported net profit of $172.6 million, or $4.18 per share, a 5.3% increase year-on-year.
The airline has remained one of the most consistently profitable carriers in Latin America, benefiting from strong demand across its hub in Panama and disciplined capacity growth across the region.