Copa Airlines nets $40 Million in 2021

Panamanian carrier Copa Airlines announced it had a US$39.9 million net profit for the full-year 2021. The airline benefited from several special items, including the return of leased aircraft and passenger revenue adjustments. If it weren’t for these items, Copa would have only had a profit of US$2.7 million last year.

Last year, Copa Airlines reported an operating profit of US$145.7 million, as it carried 6.1 million passengers. The Panamanian flag carrier had 41.4% fewer passengers than in 2019, prior to the COVID-19 pandemic. Copa Airlines had a rough time bouncing back from the crisis because of its, essentially, 100% international map route, except for a unique domestic route between Panama City and David.

Copa Airlines closed 2021 operating with a capacity of 83.1% compared to its pre-pandemic levels, which is very good, taking into account all the surrounding circumstances.

In 2021, Copa Airlines sold its remaining Embraer fleet. The aircraft went to the Australian operator Alliance Airlines. Additionally, Copa accelerated the deliveries of new Boeing 737 MAX aircraft in the final quarter.

Copa ended 2021 with a consolidated fleet of 91 aircraft. It is composed of 68 Boeing 737-800s, 14 Boeing 737 MAX 9s, and nine Boeing 737-700s. Before the pandemic, it had a fleet of 102 aircraft.