Copa Holdings, S.A. (NYSE:CPA) Q3 2023 Earnings Conference Call November 16, 2023 11:00 AM ET

Company Participants

Daniel Tapia - Director of Investor Relations

Pedro Heilbron - Chief Executive Officer

Jose Montero - Chief Financial Officer

Conference Call Participants

Savi Syth - Raymond James

Guilherme Mendes - JPMorgan

Michael Linenberg - Deutsche Bank

Rogerio Araujo - Bank of America

Stephen Trent - Citi

Daniel McKenzie - Seaport Global

Bruno Amorim - Goldman Sachs

Operator

Ladies and gentlemen, thank you for standing by. Welcome to Copa Holdings Third Quarter Earnings Call. [Operator Instructions] As a reminder, this call -- this webcast is being recorded on November 16, 2023.

Now, I will turn the conference call over to Daniel Tapia, Director of Investor Relations. Sir, you may begin.

Daniel Tapia

Thank you, Avy [ph] and welcome, everyone, to our third quarter earnings call. Joining us today are Pedro Heilbron, CEO of Copa Holdings; and Jose Montero, our CFO. First, Pedro will start by going over our third quarter highlights, followed by Jose, who will discuss our financial results. Immediately after, we will open the call for questions from analysts. Copa Holdings financial reports have been prepared in accordance with International Financial Reporting Standards.

In today's call, we will discuss non-IFRS financial measures. A reconciliation of the non-IFRS to IFRS financial measures can be found in our earnings release which has been posted on the company's website, copaair.com. Our discussion today will also contain forward-looking statements, not limited to historical facts that reflect the company's current beliefs, expectations and/or intentions regarding future events and results. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially and are based on assumptions subject to change. Many of these are discussed in our annual report filed with the SEC.

Now, I'd like to turn the call over to our CEO, Mr. Pedro Heilbron.

Pedro Heilbron

Thank you, Daniel. Good morning to all and thanks for participating in our third quarter earnings call. Before we begin, I would like to extend my sincere gratitude to all our coworkers for their commitment to the company. Their continuous efforts and dedication have kept Copa at the forefront of Latin American aviation. To them, as always, my highest regards and admiration.

As you can see in our third quarter earnings release, once again, Copa reported strong financial results for the quarter. We were able to deliver industry-leading operating margins while continuing to grow our capacity by double digits year-over-year. The third quarter results were driven by a robust demand environment in the region and our focus on delivering low ex-fuel unit costs.