Panama's Copa Airlines posts $169 million loss but reduces cash burn

Copa Holdings

10/02/2021 22:03

Feb 10 (Reuters) - Panama's Copa Airlines  CPA.N  on
Wednesday reported a net loss of $169 million for the fourth
quarter, but said a mark-to-market loss on its convertible debt
had added $80 million in losses to its bottom line. 
    Copa significantly reduced its cash burn during the quarter
to $6 million a month during the quarter, a key metric for
airlines operating amid the pandemic. Cash consumption in Q3 was
$36 million a month. 

 (Reporting by Marcelo Rochabrun
Editing by Chris Reese)
 ((marcelo.rochabrun@thomsonreuters.com; +55 11 5644 7768;))