Copa Holdings, S.A. (NYSE: CPA) yesterday released preliminary passenger traffic statistics for March 2023:
| Operating Data | March | March | % Change | |
| 2023 | 2019 | |||
| Copa Holdings (Consolidated) | ||||
| ASM (mm) (1) | 2,224.6 | 2,126.6 | 4.6 % | |
| RPM (mm) (2) | 1,939.7 | 1,771.7 | 9.5 % | |
| Load Factor (3) | 87.2 % | 83.3 % | 3.9p.p. | |
| 1. Available seat miles - represents the aircraft seating capacity multiplied by the number of miles the seats are flown. | ||||
| 2. Revenue passenger miles - represents the numbers of miles flown by revenue passengers | ||||
| 3. Load factor - represents the percentage of aircraft seating capacity that is actually utilized | ||||
Given the irregular nature of the Company's operations starting in March 2020 due to the Covid-19 pandemic, we are comparing this traffic report to 2019 statistics.
Consolidated capacity (ASMs) came in 4.6% higher than in March 2019, while passenger traffic (RPMs) increased by 9.5%. As a result, the load factor for the month was 87.2%, 3.9 percentage points higher than in March 2019.