Report of Foreign Issuer (6-k)
September 27 2017 - 4:47PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Report on Form 6-K dated for the month
of September, 2017
Copa Holdings, S.A.
(Translation of Registrant's Name Into English)
Boulevard Costa
del Este, Avenida Principal y Avenida de la Rotonda
Urbanización Costa del Este
Complejo Business Park, Torre Norte
Parque Lefevre
Panama City, Panama
(Address of principal
executive offices)
(Indicate by check mark whether the registrant
files or will file annual reports under cover of Form 20-F or Form 40-F.)
(Indicate by check whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.)
(If “Yes” is marked, indicate
below the file number assigned to the registrant in connection with Rule 12g3-2(b);82-
)
Enclosure: Operational Challenges
during the Third Quarter of 2017.
Copa Holdings S.A. (NYSE: CPA) hereby notifies that during the
third quarter, the company has faced an unusually high number of operational challenges due to severe weather and natural disasters
in the region, and other external factors that affected its hub in Panama City. These challenges have impacted the company´s
operational metrics and overall passenger experience. Based on currently available information, these events are expected
to impact the company´s financial performance for the third quarter of 2017.
Hurricanes Irma and Maria, the September 19th earthquake near
Mexico City, an extended power outage and other operational events in Panama City’s Tocumen International Airport, together
have led to significant disruptions and delays, as well as the cancellation of close to 450 flights, or approximately 1.4% of the
scheduled flights for the quarter.
These operational challenges and the corresponding actions taken
by the company have resulted in foregone revenues and incremental expenses. The company estimates the cumulative effect will be
a reduction in operating earnings of approximately US$12 million for the third quarter. The company prepared this estimate based
on currently available information.
It is important to note that these are all isolated events and
should not materially impact the company’s fourth quarter performance and/or its ability to generate earnings in the future.
These events have brought significant devastation and hardship to the people of the region. In solidarity, Copa Airlines
has waived penalties and changes fees for passengers traveling within the affected destinations. The company has also operated
a number of humanitarian flights delivering supplies, transporting evacuees, and mobilizing search and rescue teams to several
affected destinations.
This document contains forward-looking statements - not
limited to historical facts - that reflect the Company’s currents 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 that are subject to change. For more information on forward-looking statements and associated
risks, please refer to our annual report filed with the SEC.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
|
Copa Holdings, S.A.
(Registrant)
|
Date:
9/27/2017
|
|
|
By:
|
/s/ José Montero
|
|
|
Name: José Montero
Title: CFO
|
Copa (NYSE:CPA)
Historical Stock Chart
From Aug 2024 to Sep 2024
Copa (NYSE:CPA)
Historical Stock Chart
From Sep 2023 to Sep 2024