Panama City-based Copa Holdings reported first-quarter net income of $115.5 million, up 2% from a net income of $113.2 million in the year-ago quarter. Copa Holdings—the parent company of Panama’s Copa Airlines and Copa Airlines Colombia—said the first-quarter results reflect lower unit revenues driven in large part by the reduction in yields in Brazil, Venezuela and Colombia as well as further demand weakness in other markets, partially offset by lower fuel expense and ...

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