Copa 2Q profit slides 22%

Copa Holdings reported second-quarter net income of $32 million, down 22.4% from a $41.2 million profit in the year-ago period. Revenues rose 20.6% to $515.8 million while expenses increased 25.5% to $443.2 million, producing an operating profit of $72.6 million, down 2.7% from a $74.6 million operating profit in the prior-year quarter. Traffic rose 20.3% to 2.9 billion RPMs on a 24.8% increase in capacity to 3.9 billion ASMs, producing a load factor of 73.5%, down 2.8 points. Yield ...