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Copa Holdings (CPA) June Traffic Rises From 2023 Levels
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Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for June 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in June on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In June, available seat miles (a measure of capacity) increased 12.3% year over year. Revenue passenger miles rose 12.1%. Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor (percentage of seats filled by passengers) fell to 86.6% from 86.8% in June 2023.
So far this year, shares of CPA have plunged 11.3% against the industry’s growth of 11.5%.
Image Source: Zacks Investment Research
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for June. Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for June 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 19.3 million in June 2024, reflecting an 11% year-over-year increase. RYAAY’s traffic in June was much more than the May reading of 18.9 million, April reading of 17.3 million and March reading of 13.6 million.
The June load factor (percentage of seats filled by passengers) of 95% remained flat sequentially, as well as on a year-over-year basis. The figure was higher than the load factor of 92% reported in April 2024 and 93% reported in March 2024.
Notably, RYAAY operated more than 106,000 flights in June 2024. This marks an improvement from 105,000 operated flights in May 2024, 98,400 flights operated in April 2024 and 77,000 flights operated in March 2024. However, almost 400 flights got canceled due to the ATC (air traffic control) delays.
SKYW flaunts a VGM Score of A and has a market capitalization of $3.28 billion. The Zacks Consensus Estimate for SKYW’s 2024 earnings per share (EPS) has moved up 6.9% in the past 90 days. Shares of SKYW have surged 60.1% year to date.
SKYW’s expected growth rate for 2024 is more than 100%. SKYW has a trailing four-quarter earnings surprise of 128.09%, on average.
Shares of KEX have surged 54.9% in the year-to-date period. KEX has a VGM Score of B and has a market capitalization of $7.07 billion
The Zacks Consensus Estimate for KEX’s 2024 EPS has moved up 7.3% in the past 90 days. KEX has an expected earnings growth rate of 42.47% for 2024. KEX has a trailing four-quarter earnings surprise of 10.26%, on average.
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Copa Holdings (CPA) June Traffic Rises From 2023 Levels
Copa Holdings, S.A. (CPA - Free Report) reported solid traffic numbers for June 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) rose in double digits in June on a year-over-year basis.
To match the demand swell, CPA is increasing its capacity. In June, available seat miles (a measure of capacity) increased 12.3% year over year. Revenue passenger miles rose 12.1%. Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor (percentage of seats filled by passengers) fell to 86.6% from 86.8% in June 2023.
So far this year, shares of CPA have plunged 11.3% against the industry’s growth of 11.5%.
Image Source: Zacks Investment Research
Given the buoyant traffic scenario, Copa Holdings is not the only airline to report impressive traffic numbers for June. Ryanair Holdings (RYAAY - Free Report) , a European carrier, also reported solid traffic numbers for June 2024, driven by upbeat air-travel demand.
The number of passengers transported on Ryanair flights was 19.3 million in June 2024, reflecting an 11% year-over-year increase. RYAAY’s traffic in June was much more than the May reading of 18.9 million, April reading of 17.3 million and March reading of 13.6 million.
The June load factor (percentage of seats filled by passengers) of 95% remained flat sequentially, as well as on a year-over-year basis. The figure was higher than the load factor of 92% reported in April 2024 and 93% reported in March 2024.
Notably, RYAAY operated more than 106,000 flights in June 2024. This marks an improvement from 105,000 operated flights in May 2024, 98,400 flights operated in April 2024 and 77,000 flights operated in March 2024. However, almost 400 flights got canceled due to the ATC (air traffic control) delays.
Zacks Rank and Other Stocks to Consider
CPA currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks for investors’ consideration in the Zacks Transportation sector include SkyWest, Inc. (SKYW - Free Report) and Kirby Corporation (KEX - Free Report) . Each stock presently carries a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
SKYW flaunts a VGM Score of A and has a market capitalization of $3.28 billion. The Zacks Consensus Estimate for SKYW’s 2024 earnings per share (EPS) has moved up 6.9% in the past 90 days. Shares of SKYW have surged 60.1% year to date.
SKYW’s expected growth rate for 2024 is more than 100%. SKYW has a trailing four-quarter earnings surprise of 128.09%, on average.
Shares of KEX have surged 54.9% in the year-to-date period. KEX has a VGM Score of B and has a market capitalization of $7.07 billion
The Zacks Consensus Estimate for KEX’s 2024 EPS has moved up 7.3% in the past 90 days. KEX has an expected earnings growth rate of 42.47% for 2024. KEX has a trailing four-quarter earnings surprise of 10.26%, on average.