Copa Still Showing Positive Trends Through 3Q

Copa Holdings (Airlines) (NYSE: CPA) released its August traffic statistics Tuesday, and Citigroup believes the findings to be marginally positive.

Revenue passenger miles (RPMs) increased +12% y/y as capacity increased +13.5% and the load softened by -0.9 points y/y, but is still healthy at 75%, Citigroup reports.

Combining July and August data, Citigroup calculates that Copa's system-wide RPS growth for the period is up +15.5% y/y and right in line with its 3Q growth forecast of 15.2%.

Copa Holdings closed yesterday at $51.27.