Copa Holdings reports net income of US$151.4m for first quarter 2014

Copa Holdings reported net income of US$151.4m for 1Q14. Excluding special items, Copa Holdings would have reported an adjusted net income of $153.6m, a 23.5% increase over adjusted net income of US$124.4m for 1Q13. Operating income for 1Q14 came in at US$177.0m, a 24.1% increase over operating income of US$142.6m in 1Q13. Operating margin for the period came in at 24.8%, compared to 22.2% in 1Q13, as a result of higher unit revenues and lower unit costs. Total revenues increased 11.3% to US$713.6m. Yield per passenger mile increased 0.5% to 17.7 cents and operating revenue per available seat mile (RASM) increased 1.9% to 14.2 cents.