Copa Holdings reported net income of US$113.8 million for 1Q13, or diluted earnings per share (EPS) of US$2.56. Excluding special items, Copa Holdings would have reported an adjusted net income of $124.4 million, or $2.80 per share, a 37.3% increase over adjusted net income of US$90.6 million and US$2.04 per share for 1Q12.
For the month of April 2013, Copa Holdings' system-wide passenger traffic (RPM) increased 18.3% year over year, while capacity increased 20.0%. As a result, system load factor for April 2013 was 73.6%, a 1.1 percentage point decline when compared to April 2012.
The Company generated approximately 1.6 billion revenue passenger miles (RPMs), a 7% decrease from April 2012, on a 7% reduction in capacity. Block hours were 2% greater than the same period in 2012. Consolidated load factor increased one point to 81% from April 2012.
For the month, Frontiers load factor increased slightly to 87% from April 2012. Frontiers traffic decreased 22% to 0.8 billion revenue passenger miles (RPMs) on a 22% reduction in capacity. Frontier Airlines served 0.8 million passengers in April, a 21% reduction from the same period last year.
During April 2013, total terminal passengers increased 3.4% compared to the previous year. Domestic passenger traffic increased 5.1%, while international passenger traffic increased 0.5% compared to April 2012.