The Panama-based carrier increased its growth plans for 2026 despite elevated fuel prices.
Copa Airlines says it was able to recover about 40% of increased fuel prices thanks to strong passenger demand, which helped increase operating revenues in the second quarter.
The Panama-based carrier reported a $91.7 million operating profit for the quarter ended 30 June, down 50% from the prior year. Operating margins fell to 8.7% from above 20%.
“While fuel prices remain elevated and volatile relative to prior-year levels, underlying demand across the network continues to be strong,” says chief financial officer Peter Donkersloot.
Looking forward, the airline plans year-over-year capacity growth of 14-15%, where it previously expected 11% to 13%, as measured by available seat-miles (ASMs) through the end of 2026. It expects an operating margin between 17 and 19%, down from 22.6% in 2025
To support that growth, Copa is adding two more banks of flights to its hub in Panama City in March 2027, a key location connecting North and South America that has proven a winning strategy for the airline. The eight total banks of connecting flights will create more opportunities for growth, executives say, and allow for better utilisation of aircraft.
New aircraft deliveries should also support those growth plans. Copa took delivery of four Boeing 737-Max 8s during the quarter, bringing its total fleet size to 131 aircraft.
“As always, we maintain significant flexibility in our fleet plan through delivery options, slide rights, lease expirations, and a substantial rate of unencumbered aircraft, which allows us to adjust the pace of growth if market conditions warrant,” says executive vice president Robert Carey.
The post Copa boosts capacity outlook for 2026 first appeared on FlightGlobal.