Copa Holdings SA Reports Consolidated Traffic Results for the Fourth Quarter Ended December 31, 2012; Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Victor Vial to Resign as CFO, Effective March 15, 2013
February 07, 2013 at 02:35 am IST
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Copa Holdings SA reported consolidated traffic results for the fourth quarter ended December 31, 2012 and unaudited earnings results for the fourth quarter and full year ended December 31, 2012. For the period, the company reported revenue passengers carried was $1,899,000, RPM was 3,366 mm and ASM was 4,447 mm, and load factor 75.7%.
For the quarter, the company reported net income of $86,623,000 or $1.95 per basic and diluted share on total operating revenue was $599,839,000 against net income of $104,383,000 or $2.36 per basic and diluted share on total operating revenue was $509,449,000 a year ago. Operating income was $104,269,000 compared to $111,506,000 a year ago. Interest income was $3,427,000 compared to $2,152,000 a year ago. Income before income taxes was $96,845,000 compared to $116,456,000 a year ago. Adjusted net income was $89,296,000 or $2.01 per basic and diluted share compared to $85,314,000 or $1.93 per basic and diluted share a year ago.
For the full year, the company reported net income of $326,476,000 or $7.35 per basic and diluted share on total operating revenue was $2,249,388,000 against net income of $310,425,000 or $6.98 per basic and diluted share on total operating revenue was $1,830,921,000 a year ago. Operating income was $402,535,000 compared to $384,985,000 a year ago. Interest income was $11,689,000 compared to $6,774,000 a year ago. Income before income taxes was $366,343,000 compared to $346,011,000 a year ago. Adjusted net income was $336,053,000 or $7.57 per basic and diluted share compared to $314,059,000 or $7.06 per basic and diluted share a year ago.
Effective March 15, 2013, and after 17 years of valuable service, the company's CFO, Mr. Victor Vial, will be resigning. Mr. Vial will continue to be involved with the company as an advisor to the Board of Directors. The company is currently undergoing a selection process to appoint a new CFO.
Copa Holdings, S.A. is a provider of airline passenger and cargo service through its principal operating subsidiaries, Compania Panamena de Aviacion, S. A. (Copa Airlines) and AeroRepublica, S. A. (Copa Colombia). The Company operates through air transportation segment. Copa Airlines operates from its position located in the Republic of Panama. Copa Airlines provides international air transportation for passengers, cargo and mail, operating from its Panama City hub in the Republic of Panama. Copa Colombia provides service within Colombia and international flights from various cities in Colombia to Panama, Venezuela, Ecuador, Mexico, Cuba, Guatemala and Costa Rica. Copa Colombia provides domestic and international air transportation for passengers, cargo and mail with a point-to-point route network. Its subsidiary, Oval Financial Leasing, Ltd., controls the special purpose entities that have a beneficial interest in the majority of its fleet.
Copa Holdings SA Reports Consolidated Traffic Results for the Fourth Quarter Ended December 31, 2012; Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2012; Victor Vial to Resign as CFO, Effective March 15, 2013