Panama's Copa Airlines warns it may lack the cash to keep operations afloat [Reuters]
Copa Holdings, S.A. Copa Holdings, S.A. Class A (CPA)
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Source: Reuters
Panama's Copa Airlines warns it may lack the cash to keep operations afloat SAO PAULO, April 27 (Reuters) - Panama’s Copa Airlines said on Monday it may not have enough liquidity to survive the coronavirus crisis despite cutting costs, becoming the second major Latin American airline to suggest that it may cease to exist due to the outbreak. “Even after giving effect to our cost saving initiatives, we may not have sufficient liquidity to operate our business,” Copa said, noting that under a conservative estimate it could burn through almost 70% of its available cash by year’s-end. Copa said it has $1.13 billion in cash but expects to run through more than $750 million in the next nine months. “It is possible that our monthly cash burn rate could be significantly higher than the levels we currently anticipate,” Copa said. Copa also said on Monday it was seeking to sell $350 million in 5-year bonds that can be converted to equity. Shares in Copa, which unlike many of its global cohorts
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CPA
Earnings
- 11/19/25 - Beat
CPA
Sec Filings
- 1/13/26 - Form 6-K
- 1/8/26 - Form 6-K
- 12/16/25 - Form 6-K
- CPA's page on the SEC website