Copa Holdings reports net income of $41.3 million for second quarter

Copa Holdings reported net income of US$41.3 million for 2Q11. Excluding special items, Copa Holdings would have reported an adjusted net income of $56.6 million a 52.9% increase over adjusted net income of $37.0 million for 2Q10. Operating income for 2Q11 came in at $75.4 million, a 72.6% increase over operating income of $43.7 million in 2Q10.  Operating margin for the period came in at 17.6%, compared to 14.4% in 2Q10, despite a 38.1% increase in the effective price of jet fuel. Total revenues increased 40.9% to $428.5 million, significantly outpacing a strong capacity expansion.