Copa Holdings October 2024 Traffic Improves Year Over Year

Copa Holdings, S.A. CPA reported traffic numbers for October 2024 on the back of upbeat air-travel demand. Driven by high passenger volumes, revenue passenger miles (a measure of traffic) improved on a year-over-year basis in October.To match the demand swell, CPA is increasing its capacity. In October, available seat miles (a measure of capacity) increased 6.6% year over year. Revenue passenger miles increased 6.5% year over year. Although traffic improved on a year-over-year basis, it failed to outpace capacity expansion. As a result, the load factor (percentage of seats filled by passengers) fell to 87.4% from 87.6% in October 2023.Apart from Copa Holdings, we found another airline company, Ryanair Holdings RYAAY, aEuropean carrier, also reported impressive traffic numbers for October 2024.The number of passengers transported on Ryanair flights was 18.3 million in October 2024, reflecting a 7% year-over-year increase. The October load factor (percentage of seats filled by passengers) of 93% remained flat on a year-over-year basis, reflecting consistent passenger demand for the airline's services.  RYAAY operated more than 103,200 flights in October 2024.To meet the upbeat demand, Ryanair expects its traffic view to grow 8% on a year-over-year basis for fiscal 2025, subject to no worsening of current Boeing delivery delays.CPA’s Zacks Rank & Price PerformanceCPA currently carries a Zacks Rank #2 (Buy).Shares of CPA have gained 10.6% over the past three months compared with 18% growth of the Zacks Airline industry.Three-Month Price ComparisonImage Source: Zacks Investment ResearchOther Stocks to ConsiderSome other top-ranked stocks from the Zacks Transportation sector are C.H. Robinson Worldwide (CHRW) and Expeditors International of Washington, Inc. (EXPD). Each stock presently carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.CHRW has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in three of the trailing four quarters (missed the mark in the remaining quarter), delivering an average surprise of 10.29%.CHRW has an expected earnings growth rate of 32.42% for 2024. The Zacks Consensus Estimate for CHRW 2024 earnings has been revised 7.3% upward over the past 90 days. Shares of CHRW have gained 26.2% so far this year.EXPD has an impressive earnings surprise history. The company's earnings outpaced the Zacks Consensus Estimate in two of the trailing four quarters (missed the mark in the remaining quarter and met in the other quarter), delivering an average surprise of 4.75%.The Zacks Consensus Estimate for EXPD’s 2024 earnings has been revised 6.4% upward over the past 90 days. EXPD has an expected earnings growth rate of 5.79% for 2024. Shares of EXPD have gained 58.5% so far this year. Free: 5 Stocks to Buy As Infrastructure Spending SoarsTrillions of dollars in Federal funds have been earmarked to repair and upgrade America’s infrastructure. In addition to roads and bridges, this flood of cash will pour into AI data centers, renewable energy sources and more.In, you’ll discover 5 surprising stocks positioned to profit the most from the spending spree that’s just getting started in this space.Download How to Profit from the Trillion-Dollar Infrastructure Boom absolutely free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ryanair Holdings PLC (RYAAY): Free Stock Analysis Report C.H. Robinson Worldwide, Inc. (CHRW): Free Stock Analysis Report Expeditors International of Washington, Inc. (EXPD): Free Stock Analysis Report Copa Holdings, S.A. (CPA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks