August 7, 2019 / 9:00 PM / 6 months ago

Panama's Copa Airlines reports flat profit despite Boeing MAX grounding

(Reuters) - Panama’s Copa Airlines (CPA.N) on Wednesday reported a quarterly profit of $50.9 million, roughly the same as a year ago, in spite of the prolonged grounding of its most cost-efficient planes, the Boeing 737 MAX, following two deadly accidents.

Copa was expecting to receive seven MAX planes since the grounding began, bringing its MAX fleet to a total of 13, the company said in a securities filing. It operated a fleet of 104 planes in the quarter.

Reporting by Marcelo Rochabrun and Bangalore newsroom; editing by Bill Berkrot

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