Copa (CPA) Q1 2026 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Thu, May 14, 2026 astatine 11:12 AM CDT 26 min read

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DATE

Thursday, May 14, 2026 astatine 11 a.m. ET

CALL PARTICIPANTS

• Chief Executive Officer — Pedro Heilbron

• Chief Financial Officer — Peter Donkersloot Ponce

Full Conference Call Transcript

Pedro Heilbron: Thank you, Daniel. Good morning, and convey you each for joining america for our archetypal 4th net call. Before we begin, I would similar to admit our much than 9 1000 coworkers' committedness and professionalism proceed to beryllium cardinal drivers of Copa's beardown operational show and enactment successful our industry. Especially successful today's higher and volatile pitchy substance terms environment, their accordant absorption connected execution and outgo subject has allowed america to participate the existent substance situation from a presumption of strength. To them, arsenic always, my sincere appreciation and respect We delivered different 4th of beardown fiscal and operational results. Reaffirming the spot and resilience of our concern exemplary and our quality to consistently present manufacture starring profitability.

Our archetypal 4th results bespeak a beardown request situation crossed the portion continued subject successful outgo execution and our relentless absorption connected delivering operational excellence for our passengers. Now I volition spell implicit our archetypal 4th highlights. Capacity accrued 14% twelvemonth implicit year, portion rider postulation accrued 15%, resulting successful a 0.8 percent constituent summation successful load origin to 87.2%. Passenger output accrued 1.6% twelvemonth implicit twelvemonth RASM came successful astatine 11.8¢, 2.7% higher compared to Q1 2025. Unit outgo per CASM accrued 1.6% to 8.9¢ driven by higher substance prices. CASM, excluding fuel, declined 1% to 5.8¢ reflecting our continued outgo discipline.

And we delivered an manufacture starring operating borderline of 24.6%, 0.8 percent points higher than Q1 of past year. On the operational side, we delivered an connected clip show for the 4th of 91.6%, and a formation completion origin of 99.7% erstwhile again, positioning Copa among the precise champion successful the industry. Turning to our network. We person resumed work to Valencia and Barquesimeto and person scheduled a restart of Barcelona successful June. Together with our existing work to Maracaibo and Caracas, this returns america to serving 5 cities successful Venezuela, from our hub of The Americas successful Panama. With these additions, we volition run to 87 destinations successful 32 countries.

Further strengthening our presumption astatine the astir implicit and convenient connecting hub for travel, successful The Americas. With respect to our fleet, during the quarter, we took transportation of 2 Boeing 37 MAX 8 ending Q1 with 127 aircraft. We person already received 2 further MAX 8s successful the 2nd quarter, bringing our fleet full to 121 aircraft. Additionally, successful April, we announced a caller Boeing 37 MAX bid for 40 steadfast craft and 20 options. With transportation schedules betwixt 2030 and 2034. This caller bid which begins arsenic we implicit deliveries from our existing bid publication successful 2029 reinforces our agelong word maturation strategy and ensures Copa's Hub of the Americas continues to pb good into the adjacent decade.