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Copa Holdings registers dip in second-half earnings on fuel hedging

Thursday, August 12, 2010

Panama's largest airline, Copa Holdings, said its net profit for the second quarter of this year fell to $18.6 million from the $55.2 million it reported a year ago.
Excluding special items, which for the 2009 period included a special net non-operating $8.6 million loss related to fuel hedge contracts, Copa would have reported a net profit of $26.3 million in the second quarter 2010.
The company's total revenues rose 9.3 percent on year, to $303 million, as its capacity grew 5 percent.
Fuente: Dow Jones