Copa holdings reports third quarter results

Copa holdings reports net profit of $104.0 million and eps of $2.45 for the third quarter of 2019.q3 earnings per share $2.45.q3 revenue $708.2 million versus refinitiv ibes estimate of $698.4 million.q3 earnings per share estimate $2.23 -- refinitiv ibes data.qtrly revenue per available seat mile increased 9.4% to 11.1 cents.operating cost per available seat mile increased 0.5% to 9.0 cents in 3q19.excluding fuel costs, qtrly casm increased 5.5% from 5.9 cents in 3q18 to 6.2 cents in 3q19.casm increase in quarter mainly due to decrease in capacity related to grounding of boeing max fleet.capacity (measured in available seat miles, or asms) decreased by 3.7% in 3q19 due to grounding of boeing max fleet.consolidated load factor for quarter increased 1.4 percentage points to 85.6%.has not taken any aircraft deliveries since world-wide grounding of boeing max fleet took effect in march.as part of world-wide grounding of boeing max fleet, co removed all boeing max operations from its schedule until mid-february 2020.
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