Aankondiging • May 15
Copa Holdings, S.A. announces Quarterly dividend, payable on June 15, 2026 Copa Holdings, S.A. announced Quarterly dividend of USD 1.7100 per share payable on June 15, 2026, ex-date on May 29, 2026 and record date on May 29, 2026. Aankondiging • Apr 15
Copa Holdings, S.A. to Report Q1, 2026 Results on May 13, 2026 Copa Holdings, S.A. announced that they will report Q1, 2026 results After-Market on May 13, 2026 Aankondiging • Mar 25
Copa Holdings, S.A., Annual General Meeting, May 13, 2026 Copa Holdings, S.A., Annual General Meeting, May 13, 2026. Location: at boulevard costa del este, avenida principal y avenida de la rotonda, urbanizacion costa del este, complejo business park, torre norte, parque lefevre, panama Panama Board Change • Mar 18
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Feb 12
Copa Holdings, S.A. Announces First Quarter Dividend Payment of 2026, Payable on March 13, 2026 On February 11, 2026, the Board of Directors of Copa Holdings approved a 2026 quarterly dividend payment of USD 1.71 per share. Dividends will be distributed in March, June, September, and December. The first quarterly dividend of USD 1.71 per share will be paid on March 13, 2026, to shareholders on record as of February 27, 2026. Aankondiging • Jan 09
Copa Holdings, S.A. to Report Q4, 2025 Results on Feb 11, 2026 Copa Holdings, S.A. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Feb 11, 2026 Declared Dividend • Nov 24
Third quarter dividend of US$1.61 announced Shareholders will receive a dividend of US$1.61. Ex-date: 1st December 2025 Payment date: 15th December 2025 Dividend yield will be 4.2%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but not covered by cash flows (123% cash payout ratio). The dividend has increased by an average of 6.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 20% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Nov 21
Third quarter 2025 earnings released: EPS: US$4.20 (vs US$3.50 in 3Q 2024) Third quarter 2025 results: EPS: US$4.20 (up from US$3.50 in 3Q 2024). Revenue: US$913.1m (up 6.8% from 3Q 2024). Net income: US$173.4m (up 19% from 3Q 2024). Profit margin: 19% (up from 17% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 3 years, compared to a 7.8% growth forecast for the Global Airlines industry. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Aankondiging • Nov 20
Copa Holdings, S.A. Announces Fourth Dividend Payment, Payable on December 15, 2025 On November 19, 2025, the Board of Directors of Copa Holdings, S.A. ratified the fourth dividend payment for this year of USD 1.61 per share. Dividends will be paid on December 15, 2025, to shareholders on record as of December 1, 2025. Board Change • Nov 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 28
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Oct 10
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Oct 08
Copa Holdings, S.A. to Report Q3, 2025 Results on Nov 19, 2025 Copa Holdings, S.A. announced that they will report Q3, 2025 results After-Market on Nov 19, 2025 Board Change • Sep 12
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Aug 11
Second quarter dividend of US$1.61 announced Shareholders will receive a dividend of US$1.61. Ex-date: 29th August 2025 Payment date: 15th September 2025 Dividend yield will be 4.5%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (42% earnings payout ratio) but not covered by cash flows (109% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 33% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Board Change • Aug 11
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Aug 08
Copa Holdings, S.A. Provides Operating Guidance for the Full-Year 2025 Copa Holdings, S.A. provided operating guidance for the full-year 2025. For the period, the company continues to expect capacity growth within the range of 7% to 8%. Aankondiging • Aug 07
Copa Holdings, S.A. Ratifies Second Dividend Payment, Payable on September 15, 2025 On August 6, 2025, the Board of Directors of Copa Holdings ratified its second dividend payment for the year of USD 1.61 per share. Dividends will be paid on September 15, 2025, to shareholders of record as of August 29, 2025. Board Change • Jul 17
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 7 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jul 04
Copa Holdings, S.A. to Report Q2, 2025 Results on Aug 06, 2025 Copa Holdings, S.A. announced that they will report Q2, 2025 results After-Market on Aug 06, 2025 Board Change • Jun 19
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 4 experienced directors. 6 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Declared Dividend • May 27
First quarter dividend of US$1.61 announced Shareholders will receive a dividend of US$1.61. Ex-date: 30th May 2025 Payment date: 13th June 2025 Dividend yield will be 4.8%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by both earnings (44% earnings payout ratio) and cash flows (77% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 34% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • May 08
Copa Holdings, S.A. Announces Second Dividend Payment, Payable on June 13, 2025 On May 7, 2025, the Board of Directors of Copa Holdings ratified its second dividend payment for the year of USD 1.61 per share. Dividends will be paid on June 13, 2025, to shareholders on record as of May 30, 2025. Board Change • Apr 16
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 09
Copa Holdings, S.A. to Report Q1, 2025 Results on May 07, 2025 Copa Holdings, S.A. announced that they will report Q1, 2025 results After-Market on May 07, 2025 Board Change • Mar 19
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Mar 12
Copa Holdings, S.A., Annual General Meeting, May 07, 2025 Copa Holdings, S.A., Annual General Meeting, May 07, 2025. Location: at boulevard costa del este, avenida principal y avenida de la rotonda, urbanizacion costa del este, complejo business park, torre norte, parque lefevre, panama Panama Board Change • Mar 03
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 16
Fourth quarter dividend of US$1.61 announced Shareholders will receive a dividend of US$1.61. Ex-date: 28th February 2025 Payment date: 14th March 2025 Dividend yield will be 5.0%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is well covered by both earnings (44% earnings payout ratio) and cash flows (27% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 14
Full year 2024 earnings released: EPS: US$14.56 (vs US$12.78 in FY 2023) Full year 2024 results: EPS: US$14.56 (up from US$12.78 in FY 2023). Revenue: US$3.44b (flat on FY 2023). Net income: US$608.5m (up 18% from FY 2023). Profit margin: 18% (up from 15% in FY 2023). Available seat kilometres (ASK): 48.40b (up 8.6% from FY 2023). Passenger load factor: 86.3% (down from 86.8% in FY 2023). Total aircraft: 112 (up by 6 from FY 2023). Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 6.7% growth forecast for the Global Airlines industry. Board Change • Feb 13
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Jan 15
Copa Holdings, S.A. to Report Q4, 2024 Results on Feb 12, 2025 Copa Holdings, S.A. announced that they will report Q4, 2024 results After-Market on Feb 12, 2025 Board Change • Jan 03
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Dec 18
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Declared Dividend • Nov 24
Third quarter dividend of US$1.61 announced Shareholders will receive a dividend of US$1.61. Ex-date: 2nd December 2024 Payment date: 13th December 2024 Dividend yield will be 4.6%, which is higher than the industry average of 2.5%. Sustainability & Growth Dividend is covered by earnings (5% earnings payout ratio) but not covered by cash flows (243% cash payout ratio). The dividend has increased by an average of 5.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Nov 22
Copa Holdings, S.A. Provides Operating Guidance for the Full-Year 2025 Copa Holdings, S.A. provided operating guidance for the full-year 2025. For the year, Company currently anticipates increasing its capacity by approximately 7% to 9% compared to 2024, with unit costs excluding fuel (Ex-Fuel CASM) projected to be around 5.8 cents. Reported Earnings • Nov 21
Third quarter 2024 earnings released: EPS: US$3.52 (vs US$4.72 in 3Q 2023) Third quarter 2024 results: EPS: US$3.52 (down from US$4.72 in 3Q 2023). Revenue: US$854.7m (down 1.5% from 3Q 2023). Net income: US$146.0m (down 22% from 3Q 2023). Profit margin: 17% (down from 22% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 7.2% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Global Airlines industry. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Board Change • Nov 21
Less than half of directors are independent Following the recent departure of a director, there are only 5 independent directors on the board. The company's board is composed of: 5 independent directors. 6 non-independent directors. Independent Director Carlos Giraldo Moreno was the last independent director to join the board, commencing their role in 2023. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 21
Copa Holdings, S.A. Announces Third Dividend Payment of 2024 on All Class A and Class B Shareholders, Payable on December 13, 2024 Copa Holdings, S.A. announced it will make its third dividend payment of the year of USD 1.61 per share on December 13, 2024, to all Class A and Class B shareholders on record as of December 2, 2024. Aankondiging • Aug 09
Copa Holdings, S.A. Provides Operating Guidance for the Full-Year 2024 Copa Holdings, S.A. provided operating guidance for the full-year 2024. For 2024, the company capacity is expected to grow by approximately 9% to account for the temporary suspension of flights between Panama and Venezuela. Factored into this outlook is a load factor of approximately 86.5%; unit revenues (RASM) of 11.5 cents. Aankondiging • Aug 08
Copa Holdings, S.A. to Make Its Third Dividend Payment of 2024 on September 13, 2024 to All Class A and Class B Shareholders Copa Holdings, S.A. will make its third dividend payment of 2024 of USD 1.61 per share on September 13, 2024, to all Class A and Class B shareholders on record as of August 30, 2024. Aankondiging • Jul 09
Copa Holdings, S.A. to Report Q2, 2024 Results on Aug 07, 2024 Copa Holdings, S.A. announced that they will report Q2, 2024 results After-Market on Aug 07, 2024 Aankondiging • Apr 04
Copa Holdings, S.A. to Report Q1, 2024 Results on May 15, 2024 Copa Holdings, S.A. announced that they will report Q1, 2024 results at 4:00 PM, US Eastern Standard Time on May 15, 2024 Aankondiging • Mar 20
Copa Holdings, S.A., Annual General Meeting, May 15, 2024 Copa Holdings, S.A., Annual General Meeting, May 15, 2024, at 16:00 Eastern Daylight. Location: Boulevard Costa del Este, Avenida Principal y Avenida de la Rotonda, Urbanizaci n Costa del Este, Complejo Business Park, Torre Norte, Parque Lefevre Panama City Panama Agenda: To approve the nomination and further ratify the election of Mrs. Julianne Canavaggio, as per the recommendation of the Nominating Committee, as nominee for election as an independent director of the Company to hold office for a period of two years to expire on the annual meeting to be held in 2026; and to approve the Class B Shareholders of the Company, the election, as per the recommendation of the Nominating Committee, of the following directors including the independent directors named above Mr. Carlos Alberto Motta, Mr. Pedro Heilbron, Mr. Alvaro Heilbron, Mr. Andrew Levy, Mr. John Gebo, Mrs. Makelin Arias, and Mrs. Julianne Canavaggio for a period of two years to expire on the annual meeting to be held in 2026. Board Change • Feb 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Feb 09
Copa Holdings, S.A. Provides Operating Guidance for the Year 2024 Copa Holdings, S.A. provided operating guidance for the year 2024. For 2024, the Company is providing the following outlook: Consolidated capacity is expected to grow by approximately 10% year over year, and operating margin is expected to come within a range of 21% to 23%. Factored into this outlook is a load factor within a range of 86% to 87%, unit revenues (RASM) of approximately 12.2 cents. Reported Earnings • Feb 08
Full year 2023 earnings released: EPS: US$12.27 (vs US$8.58 in FY 2022) Full year 2023 results: EPS: US$12.27 (up from US$8.58 in FY 2022). Revenue: US$3.46b (up 17% from FY 2022). Net income: US$518.2m (up 49% from FY 2022). Profit margin: 15% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Global Airlines industry. Reported Earnings • Feb 08
Full year 2023 earnings released: EPS: US$12.27 (vs US$8.58 in FY 2022) Full year 2023 results: EPS: US$12.27 (up from US$8.58 in FY 2022). Revenue: US$3.46b (up 17% from FY 2022). Net income: US$518.2m (up 49% from FY 2022). Profit margin: 15% (up from 12% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 2 years, compared to a 9.4% growth forecast for the Global Airlines industry. Aankondiging • Feb 08
Copa Holdings, S.A. Approves Quarterly Dividend, Payable on March 15, 2024 On February 7, 2024, the Board of Directors of Copa Holdings, S.A. approved a 2024 quarterly dividend payment of USD 1.61 per share. Dividends will be distributed during March, June, September, and December. The first quarterly dividend of USD 1.61 per share will be paid on March 15, 2024, to shareholders on record as of February 29, 2024. Board Change • Jan 16
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 3 experienced directors. 6 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Jan 09
Copa Holdings, S.A. to Report Q4, 2023 Results on Feb 07, 2024 Copa Holdings, S.A. announced that they will report Q4, 2023 results After-Market on Feb 07, 2024 Board Change • Nov 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Oct 10
Copa Holdings, S.A. to Report Q3, 2023 Results on Nov 15, 2023 Copa Holdings, S.A. announced that they will report Q3, 2023 results After-Market on Nov 15, 2023 New Risk • Oct 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 8.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (8.0% increase in shares outstanding). Board Change • Oct 03
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 4 highly experienced directors. 4 independent directors (6 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Jul 12
Copa Holdings, S.A. to Report Q2, 2023 Results on Aug 09, 2023 Copa Holdings, S.A. announced that they will report Q2, 2023 results After-Market on Aug 09, 2023 Reported Earnings • Mar 26
Full year 2022 earnings released Full year 2022 results: Revenue: US$2.97b (up 96% from FY 2021). Net income: US$348.1m (up US$304.2m from FY 2021). Profit margin: 12% (up from 2.9% in FY 2021). The increase in margin was driven by higher revenue. Available seat kilometres (ASK): 39.32b (up 64% from FY 2021). Passenger load factor: 85.1% (up from 78.6% in FY 2021). Operating revenue per available seat kilometre (Oper. RASK): US$0.075 (up from US$0.063 in FY 2021). Total aircraft: 97 (up by 9 from FY 2021). Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Global Airlines industry. Board Change • Mar 14
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 6 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 30
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Jan 07
Copa Holdings, S.A. to Report Q4, 2022 Results on Feb 15, 2023 Copa Holdings, S.A. announced that they will report Q4, 2022 results at 4:00 PM, US Eastern Standard Time on Feb 15, 2023 Board Change • Nov 23
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. 5 highly experienced directors. 4 independent directors (8 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 04
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: US$693.4m (up 128% from 2Q 2021). Net income: US$124.1m (up 342% from 2Q 2021). Profit margin: 18% (up from 9.2% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 28%, compared to a 49% growth forecast for the industry in Mexico. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorated over the past week After last week's 18% share price decline to Mex$1,288, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 14x in the Airlines industry globally. Total loss to shareholders of 33% over the past three years. Board Change • Jul 26
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 30
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 8 non-independent directors. Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 06
Full year 2021 earnings released: EPS: US$1.03 (vs US$14.28 loss in FY 2020) Full year 2021 results: EPS: US$1.03 (up from US$14.28 loss in FY 2020). Revenue: US$1.51b (up 89% from FY 2020). Net income: US$43.8m (up US$650.9m from FY 2020). Profit margin: 2.9% (up from net loss in FY 2020). The move to profitability was driven by higher revenue. Available seat kilometres (ASK): 24.03b (up 105% from FY 2020). Passenger load factor: 78.6% (down from 79.6% in FY 2020). Revenue per available seat kilometre (RASK): 6.3% (down from 6.8% in FY 2020). Total aircraft: 88 (up by 11 from FY 2020). Over the next year, revenue is forecast to grow 66%, compared to a 66% growth forecast for the airlines industry in Mexico. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 70 percentage points per year, which is a significant difference in performance. Board Change • Mar 23
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 5 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Nov 20
Third quarter 2021 earnings released: EPS US$0.19 (vs US$2.78 loss in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$445.0m (up US$412.6m from 3Q 2020). Net income: US$8.24m (up US$126.3m from 3Q 2020). Profit margin: 1.9% (up from net loss in 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 101 percentage points per year, which is a significant difference in performance. Board Change • Nov 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 7 experienced directors. 3 highly experienced directors. 4 independent directors (7 non-independent directors). Independent Non Executive Director Julianne Canavaggio was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. 
