Copa Airlines declared this week, during the announcement of its financial results, that it will accelerate the retirement of its Embraer E190 aircraft in the coming months.
According to the company, it will try to sell the remaining 14 aircraft in the next 18 months, about three years earlier than previously planned. The company plans to standardize its fleet based on the Boeing 737, and this early retirement will cost US$ 90 million.
Copa's chief executive, Pedro Heilbron, said the E190s have fulfilled their mission and the company expects significant financial and operational benefits from having an exclusive 737 fleet.
The routes previously carried out by the Embraer E190 will have the equipment changed to the Boeing 737 NG.
“We are at a point where we are better off with one fleet and one aircraft because there are cost and operational advantages”, says Heilbron. “This may be less profitable in the short term, but the net benefit to the airline is positive.”
“With the delays in delivering the MAX and now the large number of aircraft that we expect to receive in the next year, around 14, we have decided that it is the perfect time to start getting rid of the E190s”, says Heilbron. "It's a prudent decision considering everything going on."
Copa posted third-quarter net income of US$104 million, up from US$57,6 million in the prior-year period. Total revenue increased 5,3% to $708,2 million. The company also has good occupancy on its flights, around 85,6%.
