(Reuters) Copa Holdings, the parent company of Panamanian carrier Copa Airlines, reported a 32 percent increase in fourth-quarter profit on Thursday, as the company flew more passengers and expanded capacity.
New York-listed Copa (CPA.N), one of Latin America’s top airlines, reported net income of $92.8 million, or $2.11 per share, in the quarter, up from $70.4 million, or $1.60 per share, in the same period of 2009.
“Consolidated passenger traffic grew 18.6 percent while capacity increased 19.6 percent,” Copa said in a statement.
Total revenues increased 20 percent to $410.6 million, the company added, slightly higher than market expectations. [ID:nASA01JSX]
The company, which flies to more than 20 countries, received three Boeing 737-800s in the fourth quarter, ending the year with 63 aircraft.