Copa Holdings Reports Financial Results for the Fourth Quarter and Full-Year 2021
OPERATING AND FINANCIAL HIGHLIGHTS
Copa Holdings reported a net profit ofUS$114.4 million for the quarter orUS$2.69 per share. Excluding special items, the Company would have reported a net profit ofUS$84.1 million orUS$1.98 per share. Special items include anUS$8.9 million unrealized mark-to-market loss related to the Company's convertible notes and a reversal ofUS$39.2 million in the Company's provision related to the return of leased aircraft.Copa Holdings reported an operating profit ofUS$155.0 million for the quarter. Excluding theUS$39.2 million reversal, the Company would have reported an operating profit ofUS$115.8 million and a 20.1% operating margin.- For full-year 2021, the Company reported a net profit of
US$39.9 million orUS$0.94 per share. Excluding special items, which included a reversal ofUS$39.2 million in the Company's provision related to the return of leased aircraft, aUS$22.8 million unrealized mark-to-market loss related to the Company's convertible notes, and a passenger revenue adjustment ofUS$20.8 million corresponding to unredeemed coupons from 2019 and 2020 sales,Copa Holdings would have reported an adjusted net profit ofUS$2.7 million orUS$0.06 per share. - For full-year 2021, the Company reported an operating profit of
US$145.7 million . Excluding special items, the Company would have reported an operating profit ofUS$85.6 million and a 5.8% operating margin. - Capacity for 4Q21, measured in terms of available seat miles (ASMs), was 83.1% of the capacity flown in 4Q19.
- Total revenues for 4Q21 came in at
US$575.0 million , reaching 84.3% of 4Q19 revenues. Passenger revenues for 4Q21 reached 82.2% of 4Q19 levels, while 4Q21 cargo revenues were 61.2% higher than 4Q19. Passenger yield increased 1.0% to12.7 cents and load factors decreased 1.8 percentage points to 83.5%, compared to 4Q19. Revenue per Available Seat Mile (RASM) came in at11.3 cents , or 1.5% higher than 4Q19. - Operating cost per available seat mile (CASM) in 4Q21, excluding special items (adjusted CASM) decreased 3.8% vs. 4Q19 to
9.0 cents . While adjusted CASM, excluding fuel, decreased 7.5% to6.1 cents . - Cash buildup, defined as cash proceeds minus disbursements, excluding extraordinary financing activities and asset sales but including capital expenditures and payment of financial obligations, was
US$84 million for the quarter. - The Company ended the quarter with
US$1.5 billion in available liquidity, consisting of approximatelyUS$1.2 billion in cash, short-term and long-term investments, andUS$295 million in committed and undrawn credit facilities. - The Company closed the quarter with total debt, including lease liabilities, of
US$1.6 billion . - During the quarter, the Company took delivery of one Boeing 737 MAX 9, completed the conversion of one Boeing 737-800 into a freighter, and decided to retain three Boeing 737-700s previously classified as assets held for sale.
- Including 3 Boeing 737-700 aircraft currently in temporary storage and one Boeing 737-800 freighter,
Copa Holdings ended the year with a consolidated fleet of 91 aircraft – 68 Boeing 737-800s, 14 Boeing 737 MAX 9s, and 9 Boeing 737-700s, compared to a fleet of 102 aircraft prior to the COVID-19 pandemic. Copa Airlines had an on-time performance for the quarter of 90.0% and a flight completion factor of 99.54%, once again positioning the airline among the best in the industry.
Subsequent Events
- In January,
Copa Airlines was recognized by Cirium – for the eighth consecutive year – as the most on-time airline inLatin America in 2021.Copa Airlines' on-time performance of 91.1% for the year was the highest of any carrier in theAmericas . - In January, the Company took delivery of one Boeing 737 MAX 9 aircraft, originally scheduled for
December 2021 . - Due to the recent surge in COVID-19 cases in
Panama andLatin America , mainly driven by the Omicron variant, which impacted its crew availability, the Company canceled over 1,000 flights, reducing the 1Q22 published schedule by approximately 4%.
Consolidated Financial |
4Q21 |
4Q19 (3) |
Variance vs. 4Q19 |
3Q21 |
Variance vs. 3Q21 |
FY21 |
FY19 (3) |
Variance vs. FY19 |
Revenue Passengers Carried (000s) |
2,214 |
2,633 |
-15.9% |
1,823 |
21.5% |
6,136 |
10,474 |
-41.4% |
Revenue Passengers OnBoard (000) |
3,369 |
3,838 |
-12.2% |
2,852 |
18.1% |
9,452 |
15,424 |
-38.7% |
RPMs (millions) |
4,265 |
5,244 |
-18.7% |
3,485 |
22.4% |
11,734 |
21,303 |
-44.9% |
ASMs (millions) |
5,109 |
6,149 |
-16.9% |
4,396 |
16.2% |
14,934 |
25,113 |
-40.5% |
Load Factor |
83.5% |
85.3% |
-1.8 p.p. |
79.3% |
4.2 p.p. |
78.6% |
84.8% |
-6.3 p.p. |
Yield (US$ Cents) |
12.7 |
12.5 |
1.0% |
12.0 |
5.8% |
12.0 |
12.3 |
-1.9% |
PRASM (US$ Cents) |
10.6 |
10.7 |
-1.1% |
9.5 |
11.4% |
9.5 |
10.4 |
-9.1% |
RASM (US$ Cents) |
11.3 |
11.1 |
1.5% |
10.1 |
11.2% |
10.1 |
10.8 |
-6.2% |
CASM (US$ Cents) |
8.2 |
10.8 |
-23.9% |
8.8 |
-6.4% |
9.1 |
9.4 |
-2.8% |
Adjusted CASM (US$ Cents) (1) |
9.0 |
9.3 |
-3.8% |
8.8 |
2.4% |
9.4 |
9.0 |
3.9% |
CASM Excl. Fuel (US$ Cents) |
5.3 |
8.0 |
-33.8% |
6.2 |
-14.7% |
6.6 |
6.6 |
-0.9% |
Adjusted CASM Excl. Fuel (US$ Cents) (1) |
6.1 |
6.6 |
-7.5% |
6.2 |
-2.4% |
6.8 |
6.3 |
8.9% |
Fuel Gallons Consumed (millions) |
61.0 |
78.9 |
-22.8% |
52.0 |
17.1% |
177.4 |
321.4 |
-44.8% |
Avg. Price Per Fuel Gallon (US$) |
2.43 |
2.16 |
12.5% |
2.13 |
13.8% |
2.14 |
2.16 |
-0.6% |
Average Length of Haul (miles) |
1,926 |
1,992 |
-3.3% |
1,912 |
0.7% |
1,912 |
2,034 |
-6.0% |
Average Stage Length (miles) |
1,254 |
1,279 |
-2.0% |
1,213 |
3.4% |
1,230 |
1,288 |
-4.5% |
Departures |
25,458 |
32,441 |
-21.5% |
22,559 |
12.9% |
75,755 |
131,819 |
-42.5% |
|
80,710 |
105,620 |
-23.6% |
69,308 |
16.5% |
235,295 |
431,749 |
-45.5% |
Average Aircraft Utilization (Hours) (2) |
11.3 |
11.3 |
0.8% |
10.7 |
6.4% |
9.2 |
11.4 |
-19.7% |
Operating Revenues (US$ millions) |
575.0 |
681.9 |
-15.7% |
445.0 |
29.2% |
1509.9 |
2707.4 |
-44.2% |
Operating Profit (Loss) (US$ millions) |
155.0 |
17.8 |
770.5% |
59.0 |
162.6% |
145.7 |
346.2 |
-57.9% |
Adjusted Operating Profit (Loss) (US$ millions) (1) |
115.8 |
107.1 |
8.0% |
48.6 |
138.1% |
85.6 |
435.5 |
-80.3% |
Operating Margin |
27.0% |
2.6% |
24.3 p.p. |
13.3% |
13.7 p.p. |
9.6% |
12.8% |
-3.1 p.p. |
Adjusted Operating Margin (1) |
20.1% |
15.7% |
4.4 p.p. |
11.2% |
8.9 p.p. |
5.8% |
16.1% |
-10.3 p.p. |
Net Profit (Loss) (US$ millions) |
114.4 |
2.7 |
4092.8% |
8.2 |
1287.5% |
39.9 |
247.0 |
-83.8% |
Adjusted Net Profit (Loss) (US$ millions) (1) |
84.1 |
92.1 |
-8.7% |
29.9 |
180.8% |
2.7 |
336.3 |
-99.2% |
Basic EPS (US$) |
2.69 |
0.06 |
4088.2% |
0.19 |
1291.3% |
0.94 |
5.81 |
-83.8% |
Adjusted Basic EPS (US$) (1) |
1.98 |
2.17 |
-8.8% |
0.70 |
181.6% |
0.06 |
7.92 |
-99.2% |
Shares for calculation of Basic EPS (000s) |
42,533 |
42,487 |
0.1% |
42,649 |
-0.3% |
42,533 |
42,487 |
0.1% |
(1) Excludes Special Items. This earnings release includes a reconciliation of non-IFRS financial measures to the comparable IFRS measures. (2) Average Aircraft Utilization is calculated based on the Company's active fleet, excluding aircraft in storage as well as those classified as assets held for sale. (3) The Company believes that comparisons with 2019 are more relevant than year-over-year comparisons due to the significant impacts in 2020 of the COVID-19 pandemic. |
FULL 4Q21 EARNINGS RELEASE AVAILABLE FOR DOWNLOAD AT:
https://copa.gcs-web.com/financial-information/quarterly-results
4Q21 EARNINGS RESULTS CONFERENCE CALL AND WEBCAST
Date: |
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Time: |
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Conference telephone number: |
877-293-5456 (US Domestic Callers) |
707-287-9357 (International Callers) |
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Webcast: |
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Speakers: |
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About
CONTACT:
Investor Relations:
Ph: 011 507 304-2774
www.copaair.com (IR section)
This release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on current plans, estimates, and expectations, and are not guarantees of future performance. They are based on management's expectations that involve several business risks and uncertainties, any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. The Company undertakes no obligation to update or revise any forward-looking statement. The risks and uncertainties relating to the forward-looking statements in this release are among those disclosed in
CPA-G
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Income Statement - IFRS |
||||||||||||||
(US$ Thousands) |
||||||||||||||
Unaudited |
Unaudited |
% |
Unaudited |
% |
Unaudited |
Audited |
% |
|||||||
4Q21 |
4Q19 |
Change |
3Q21 |
Change |
FY21 |
FY19 |
Change |
|||||||
Operating Revenues |
||||||||||||||
Passenger revenue |
540,571 |
657,940 |
-17.8% |
417,466 |
29.5% |
1,412,390 |
2,612,605 |
-45.9% |
||||||
Cargo and mail revenue |
25,849 |
16,033 |
61.2% |
21,082 |
22.6% |
71,577 |
62,460 |
14.6% |
||||||
Other operating revenue |
8,575 |
7,955 |
7.8% |
6,451 |
32.9% |
25,964 |
32,343 |
-19.7% |
||||||
Total Operating Revenue |
574,995 |
681,927 |
-15.7% |
444,999 |
29.2% |
1,509,930 |
2,707,409 |
-44.2% |
||||||
Operating Expenses |
||||||||||||||
Fuel |
149,057 |
171,314 |
-13.0% |
112,658 |
32.3% |
383,179 |
696,249 |
-45.0% |
||||||
Wages, salaries, benefits and other employees' expenses |
80,434 |
115,036 |
-30.1% |
68,049 |
18.2% |
258,128 |
450,438 |
-42.7% |
||||||
Passenger servicing |
12,204 |
24,798 |
-50.8% |
10,576 |
15.4% |
35,869 |
102,103 |
-64.9% |
||||||
Airport facilities and handling charges |
42,863 |
44,877 |
-4.5% |
39,407 |
8.8% |
131,335 |
181,959 |
-27.8% |
||||||
Sales and distribution |
43,706 |
53,222 |
-17.9% |
36,077 |
21.1% |
129,877 |
210,623 |
-38.3% |
||||||
Maintenance, materials and repairs |
(13,317) |
37,648 |
-135.4% |
24,008 |
-155.5% |
48,191 |
127,562 |
-62.2% |
||||||
Depreciation and amortization |
59,828 |
70,478 |
-15.1% |
55,702 |
7.4% |
234,505 |
282,080 |
-16.9% |
||||||
Flight operations |
19,173 |
24,908 |
-23.0% |
16,291 |
17.7% |
55,766 |
102,806 |
-45.8% |
||||||
Other operating and administrative expenses |
26,057 |
32,506 |
-19.8% |
23,222 |
12.2% |
87,426 |
118,090 |
-26.0% |
||||||
Fleet Impairment |
- |
89,334 |
-100.0% |
- |
0.0% |
- |
89,344 |
-100.0% |
||||||
Total Operating Expense |
420,005 |
664,123 |
-36.8% |
385,989 |
8.8% |
1,364,276 |
2,361,255 |
-42.2% |
||||||
Operating Profit (Loss) |
154,989 |
17,804 |
770.5% |
59,010 |
162.6% |
145,655 |
346,154 |
-57.9% |
||||||
Non-operating Income (Expense) |
||||||||||||||
Finance cost |
(18,994) |
(17,154) |
10.7% |
(18,615) |
2.0% |
(74,051) |
(57,432) |
28.9% |
||||||
Finance income |
2,571 |
6,289 |
-59.1% |
2,679 |
-4.0% |
10,849 |
24,405 |
-55.5% |
||||||
Gain (loss) on foreign currency fluctuations |
(2,508) |
2,406 |
-204.3% |
(2,620) |
-4.3% |
(6,174) |
(15,408) |
-59.9% |
||||||
Net change in fair value of derivatives |
(8,922) |
- |
-100.0% |
(32,092) |
-72.2% |
(22,778) |
- |
|||||||
Other non-operating income (expense) |
(1,158) |
(989) |
17.1% |
(1,573) |
-26.4% |
(3,291) |
(4,279) |
-23.1% |
||||||
Total Non-Operating Income/(Expense) |
(29,011) |
(9,448) |
207.1% |
(52,220) |
-44.4% |
(95,445) |
(52,715) |
81.1% |
||||||
Profit (Loss) before taxes |
125,978 |
8,356 |
1407.6% |
6,790 |
1755.4% |
50,209 |
293,439 |
-82.9% |
||||||
Income tax expense |
(11,616) |
(5,629) |
106.4% |
1,453 |
-899.7% |
10,265 |
46,437 |
-77.9% |
||||||
Net Profit (Loss) |
114,363 |
2,728 |
4092.8% |
8,242 |
1287.5% |
39,945 |
247,002 |
-83.8% |
||||||
EPS |
||||||||||||||
Basic |
2.69 |
0.06 |
4088.2% |
0.19 |
1291.3% |
0.94 |
5.81 |
-83.8% |
||||||
Shares used for calculation: |
||||||||||||||
Basic |
42,533,036 |
42,486,717 |
42,649,175 |
42,533,036 |
42,486,717 |
|
||
Consolidated statement of financial position |
||
(US$ Thousands) |
||
December 2021 |
December 2020 |
|
ASSETS |
(Unaudited) |
(Audited) |
Current Assets |
||
Cash and cash equivalents |
211,081 |
119,065 |
Short-term investments |
806,340 |
770,816 |
Total cash, cash equivalents and short-term investments |
1,017,421 |
889,881 |
Accounts receivable, net |
90,618 |
63,206 |
Accounts receivable from related parties |
1,832 |
1,429 |
Expendable parts and supplies, net |
74,778 |
74,319 |
Prepaid expenses |
31,148 |
30,473 |
Prepaid income tax |
882 |
16,716 |
Other current assets |
6,054 |
7,805 |
205,312 |
193,948 |
|
Asset held for sale |
- |
135,542 |
TOTAL CURRENT ASSETS |
1,222,733 |
1,219,371 |
Long-term investments |
199,670 |
119,617 |
Long-term accounts receivable |
(0) |
1,054 |
Long-term prepaid expenses |
22,783 |
6,066 |
Property and equipment, net |
2,512,704 |
2,147,486 |
Right of use assets |
166,328 |
214,279 |
Intangible, net |
81,749 |
95,568 |
Deferred tax assets |
28,417 |
35,595 |
Other Non-Current Assets |
14,098 |
14,348 |
TOTAL NON-CURRENT ASSETS |
3,025,749 |
2,634,013 |
TOTAL ASSETS |
4,248,482 |
3,853,385 |
LIABILITIES |
||
Loans and borrowings |
196,602 |
127,946 |
Current portion of lease liability |
73,917 |
83,605 |
Accounts payable |
112,596 |
63,461 |
Accounts payable to related parties |
7,948 |
2,970 |
Air traffic liability |
557,331 |
470,695 |
Frequent flyer deferred revenue |
95,114 |
91,213 |
Taxes Payable |
32,599 |
13,400 |
Employee benefits obligations |
32,767 |
33,995 |
Income tax payable |
3,835 |
1,023 |
Other Current Liabilities |
785 |
252 |
TOTAL CURRENT LIABILITIES |
1,113,493 |
888,560 |
Loans and borrowings long-term |
1,229,031 |
1,035,954 |
Lease Liability |
104,734 |
146,905 |
Net Defined Benefit Liability |
7,670 |
14,332 |
Derivative financial instruments |
268,338 |
245,560 |
Deferred tax Liabilities |
18,782 |
22,190 |
Other long - term liabilities |
210,933 |
216,325 |
TOTAL NON-CURRENT LIABILITIES |
1,839,487 |
1,681,265 |
TOTAL LIABILITIES |
2,952,981 |
2,569,824 |
EQUITY |
||
|
||
Class A - 33,998,654 issued and 30,995,120 outstanding |
21,290 |
21,199 |
Class B - 10,938,125 |
7,466 |
7,466 |
|
98,348 |
91,341 |
Treasury Stock |
(176,902) |
(136,388) |
Retained Earnings |
1,324,025 |
1,931,086 |
Net profit (loss) |
39,945 |
(607,062) |
Other comprehensive income (loss) |
(18,670) |
(24,082) |
TOTAL EQUITY |
1,295,501 |
1,283,561 |
TOTAL EQUITY LIABILITIES |
4,248,482 |
3,853,385 |
|
|||||||||||||
Consolidated Statement of Cash Flows |
|||||||||||||
For the twelve months ended |
|||||||||||||
(In US$ thousands) |
|||||||||||||
2021 |
2020 |
2019 |
|||||||||||
(Unaudited) |
(Audited) |
(Audited) |
|||||||||||
Cash flow from (used in) operating activities |
462,612 |
(39,515) |
740,776 |
||||||||||
Cash flow used in investing activities |
(373,040) |
(93,761) |
(192,868) |
||||||||||
Cash flow from (used in) financing activities |
2,444 |
93,609 |
(545,334) |
||||||||||
Net increase (decrease) in cash and cash equivalents |
92,016 |
(39,667) |
2,574 |
||||||||||
Cash and cash equivalents at |
119,065 |
158,732 |
156,158 |
||||||||||
Cash and cash equivalents at |
$ 211,081 |
$ 119,065 |
$ 158,732 |
||||||||||
Short-term investments |
806,340 |
770,816 |
692,403 |
||||||||||
Long-term investments |
199,670 |
119,617 |
134,347 |
||||||||||
Total cash and cash equivalents and investments at |
$ 1,217,091 |
$ 1,009,498 |
$ 985,482 |
||||||||||
NON-IFRS FINANCIAL MEASURE RECONCILIATION
This press release includes the following non-IFRS financial measures: Adjusted Operating Profit, Adjusted Net Profit, Adjusted Basic EPS, Operating CASM Excluding Fuel, and Cash Buildup. This supplemental information is presented because we believe it is a useful indicator of our operating performance and is useful in comparing our performance with other companies in the airline industry. These measures should not be considered in isolation and should be considered together with comparable IFRS measures, in particular operating profit, and net profit. The following is a reconciliation of these non-IFRS financial measures to the comparable IFRS measures:
Reconciliation of Adjusted Operating Profit |
|||||||||||||
and Adjusted Net Profit |
4Q21 |
4Q20 |
3Q21 |
4Q19 |
FY21 |
FY19 |
|||||||
Operating Profit as Reported |
$ 154,989 |
$ (95,057) |
$ 59,010 |
$ 17,804 |
$ 145,655 |
$ 346,171 |
|||||||
Subtract: Unredeemed Ticket Revenue provision reversal |
$ 10,395 |
$ 20,790 |
|||||||||||
Subtract: Leased Aircraft Return provision |
$ 39,217 |
$ 39,217 |
|||||||||||
Add: Fleet Impairment loss |
$ 4,400 |
$ 89,344 |
$ 89,344 |
||||||||||
Add: Expected loss (gain) on Embraer assets held for sale |
$ (877) |
||||||||||||
Adjusted Operating Profit |
$ 115,773 |
$ (91,533) |
$ 48,615 |
$ 107,148 |
$ 85,648 |
$ 435,515 |
|||||||
Net Profit as Reported |
$ 114,363 |
|
$ 8,242 |
$ 2,728 |
$ 39,945 |
$ 247,002 |
|||||||
Subtract: Unredeemed Ticket Revenue provision reversal |
$ 10,395 |
$ 20,790 |
|||||||||||
Subtract: Leased Aircraft Return provision |
$ 39,217 |
$ 39,217 |
|||||||||||
Add: Fleet Impairment loss |
$ 4,400 |
$ 89,344 |
$ 89,344 |
||||||||||
Add: Expected loss (gain) on Embraer assets held for sale |
$ (877) |
||||||||||||
Add: Net change in fair value of derivatives |
$ 8,922 |
$ 80,076 |
$ 32,092 |
$ 22,779 |
|||||||||
Adjusted Net Profit |
$ 84,068 |
$ (85,205) |
$ 29,939 |
$ 92,072 |
$ 2,717 |
$ 336,346 |
|||||||
Reconciliation of Adjusted Basic EPS |
4Q21 |
4Q20 |
3Q21 |
4Q19 |
FY21 |
FY19 |
|||||||
Adjusted Net Profit |
$ 84,068 |
$ (85,205) |
$ 29,939 |
$ 92,072 |
$ 2,717 |
$ 336,346 |
|||||||
Shares used for calculation of Basic EPS |
42,533 |
42,511 |
42,649 |
42,487 |
42,508 |
42,478 |
|||||||
Adjusted Basic Earnings per share (Adjusted Basic EPS) |
$ 1.98 |
$ (2.00) |
$ 0.70 |
$ 2.17 |
$ 0.06 |
$ 7.92 |
|||||||
Reconciliation of Adjusted Operating Costs per ASM |
|||||||||||||
Excluding Fuel (Adjusted CASM Excl. Fuel) |
4Q21 |
3Q21 |
4Q19 |
FY21 |
FY19 |
||||||||
Operating Costs per ASM as Reported (in US$ Cents) |
8.2 |
8.8 |
10.8 |
9.1 |
9.4 |
||||||||
Return of leased aircraft provision per ASM (in US$ Cents) |
(0.8) |
- |
- |
(0.3) |
- |
||||||||
Fleet Impairment per ASM (in US$ Cents) |
- |
- |
1.5 |
- |
0.4 |
||||||||
Adjusted Operating Costs per ASM (in US$ Cents) |
9.0 |
8.8 |
9.3 |
9.4 |
9.0 |
||||||||
Aircraft Fuel Cost per ASM (in US$ Cents) |
2.9 |
2.6 |
2.8 |
2.6 |
2.8 |
||||||||
Adjusted Operating Costs per ASM excluding fuel (in US$ Cents) |
6.1 |
6.2 |
6.6 |
6.8 |
6.3 |
||||||||
Reconciliation of Monthly Cash Buildup (Burn) for 2021 |
4Q21 |
3Q21 |
2Q21 |
1Q21 |
|||||||||
Beginning Cash balance |
$ 1,289 |
$ 1,282 |
$ 1,203 |
$ 1,009 |
|||||||||
Ending Cash balance |
$ 1,217 |
$ 1,289 |
$ 1,282 |
$ 1,203 |
|||||||||
Net cashflows in the quarter |
$ (72) |
$ 7 |
$ 79 |
$ 194 |
|||||||||
Subtract: Proceeds from Lines of Credit |
$ 50 |
$ - |
$ - |
$ - |
|||||||||
Subtract: Net Proceeds from new Aircraft Financing minus Pre Delivery Payments |
$ (181) |
$ (57) |
$ (21) |
$ 241 |
|||||||||
Subtract: Others proceeds (assets sold and other non-op proceeds) |
$ 14 |
$ 11 |
$ 36 |
$ 20 |
|||||||||
Add: Share repurchase |
$ 39 |
$ - |
$ - |
$ - |
|||||||||
Cash Buildup (Burn) excluding extraordinary activities |
$ 84 |
$ 54 |
$ 64 |
$ (68) |
|||||||||
View original content:https://www.prnewswire.com/news-releases/copa-holdings-reports-financial-results-for-the-fourth-quarter-and-full-year-2021-301479053.html
SOURCE