Copa Holdings (CPA) Operating Expenses (2009 - 2026)
Copa Holdings' (CPA) quarterly Operating Expenses came in at $967.7 million in Q2 2026, up 46.76% year-over-year from $659.4 million in Q2 2025, and up 21.91% quarter-over-quarter from $793.8 million in Q1 2026.
Analysis
Copa Holdings (CPA) Operating Expenses (2009 - 2026) Analysis & Trends
Copa Holdings has disclosed Operating Expenses across 18 years of filings, most recently posting $967.7 million for Q2 2026.
- In Q2 2026, Operating Expenses rose 46.76% year-over-year to $967.7 million; the TTM figure through Jun 2026 stood at $3.2 billion (up 19.07% YoY), while the FY2025 annual figure was $2.8 billion, up 3.92% from the prior year.
- Operating Expenses came in at $967.7 million for Q2 2026 at Copa Holdings, up from $793.8 million in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $967.7 million in Q2 2026 to a low of $526.8 million in Q1 2022.
- Average Operating Expenses over 5 years is $689.9 million, with a median of $674.5 million recorded in 2023.
- Year-over-year, Operating Expenses soared 120.33% in 2022 and declined 5.62% in 2023.
- Over 5 years, Operating Expenses stood at $671.0 million in 2022, then advanced by 4.11% to $698.5 million in 2023, then decreased by 3.38% to $674.9 million in 2024, then gained by 11.62% to $753.3 million in 2025, then increased by 28.46% to $967.7 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $967.7 million in Q2 2026, $793.8 million in Q1 2026, and $753.3 million in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 52.35 Bn | 47.68 Bn | 19.07 Bn | 17.89 Bn |
| 2 | Ryanair Holdings | 27.93 Bn | 24.00 Bn | - | 4.43 Bn |
| 3 | Southwest Airlines | 20.05 Bn | 16.26 Bn | 7.33 Bn | 8.15 Bn |
| 4 | Copa Holdings | 5.42 Bn | 4.16 Bn | 1.03 Bn | 967.68 Mn |
| 5 | Alaska Air | 4.52 Bn | 1.86 Bn | 3.76 Bn | 4.23 Bn |
| 6 | Skywest | 3.74 Bn | 3.14 Bn | 1.01 Bn | 946.92 Mn |
| 7 | Grupo Aeromexico, S.A.B. de C.V | 2.25 Bn | 1.21 Bn | - | 1.41 Bn |
| 8 | Allegiant Travel | 2.14 Bn | 1.08 Bn | 902.77 Mn | 922.38 Mn |
| 9 | Jetblue Airways | 1.65 Bn | -372.51 Mn | 2.32 Bn | 2.84 Bn |
| 10 | Frontier Group Holdings | 1.34 Bn | 384.76 Mn | - | 1.38 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 967.68 Mn |
| Mar 31, 2026 | 793.79 Mn |
| Dec 31, 2025 | 753.30 Mn |
| Sep 30, 2025 | 700.84 Mn |
| Jun 30, 2025 | 659.36 Mn |
| Mar 31, 2025 | 685.36 Mn |
| Dec 31, 2024 | 674.87 Mn |
| Sep 30, 2024 | 681.00 Mn |
| Jun 30, 2024 | 659.90 Mn |
| Mar 31, 2024 | 677.48 Mn |
| Dec 31, 2023 | 698.50 Mn |
| Sep 30, 2023 | 662.70 Mn |
| Jun 30, 2023 | 614.52 Mn |
| Mar 31, 2023 | 674.05 Mn |
| Dec 31, 2022 | 670.95 Mn |
| Sep 30, 2022 | 665.75 Mn |
| Jun 30, 2022 | 651.13 Mn |
| Mar 31, 2022 | 526.81 Mn |
| Dec 31, 2021 | 413.70 Mn |
| Sep 30, 2021 | 385.99 Mn |