Moderators: richierich, ua900, PanAm_DC10, hOMSaR
2travel2know2 wrote:Odd KL metal in PTY.
B777 KLM Asia flew here to repatriate Europeans.
https://twitter.com/tocumenaero/status/1243187369399984130?s=20 From Tocumen PTY Twitter account, in Spanish
2travel2know2 wrote:Not so odd. Back when I returned to SJO via PTY from Europe in December 2016, my KL aircraft was PH-BQH, a 77E from KLM Asia. Those KLM Asia aircraft are not exclusive to specific routes, they can be used everywhere in KL's longhaul network (depending on needs of course). There's a picture of that aircraft at PTY in the database albeit from 2014.Odd KL metal in PTY.
B777 KLM Asia flew here to repatriate Europeans.
https://twitter.com/tocumenaero/status/1243187369399984130?s=20 From Tocumen PTY Twitter account, in Spanish
SJOtoLIR wrote:Costa Rica: Both SJO and LIR are closed to foreigners. Period: March 18th till April 12th..
SJOtoLIR wrote:That's also for all land borders. And the reason may also have to do with Nicaragua doing absolutely nothing in regards to COVID-19.SJOtoLIR wrote:Costa Rica: Both SJO and LIR are closed to foreigners. Period: March 18th till April 12th..
Update: Costa Rica is extending the suspension to April 30th.
2travel2know2 wrote:Let's face it: While small and middle businesses may not be as lucky to receive money from the government, the bigger corporations will get a bailout. CM is highly important to Panama, and I think that, given the circumstances, they will get a bailout. In Europe, even the EU will have to think about its own bailout rules because, as some of y'all may know, the EU is very strict with that. Or else, Italy would've never gotten in such trouble with all the illegal bailouts they gave to AZ.The airline and its major stock-holder has been under heavy attack by many who are against any government bail or financial assistance to the airline in these times.
SJOtoLIR wrote:I would also say it depends on what Nicaragua will do. As stated before, they're doing nothing. Now people are dying over there from an "atypical" pneumonia. So even when May 15 comes around, I don't see the border fully opening. And if I was the government, even if I'd open the border, I could see a travel ban to and from Nicaragua being issued with freight runs being exempt on land and air. Realistically however, I see the border closure being extended until at least May 31.All ground and air borders are now closed in Costa Rica till May 15th, meaning 15 more days than the intended date.
Speaking strictly about aviation-wise through SJO, some isolated repatriation flights from Houston, Mexico City, San Salvador and others have landed in the past week.
Depending on the progress of the spread of the virus, civil authorities are extending the flight bans.
Few words to say for the time being.
Kilgen wrote:If CM starts flying in June 1, they have published a list of destinations and weekly frequencies.
They plan to start 50 destinations and the most frequencies are to BOG and SJO with 14 fx per week.
https://www.prensa.com/economia/copa-ai ... eraciones/
Kilgen wrote:If CM starts flying in June 1, they have published a list of destinations and weekly frequencies.
Panama's Copa Airlines warns it may lack the cash to keep operations afloat
Panama's Copa Airlines said on Monday it may not have enough liquidity to survive the coronavirus crisis despite cutting costs, becoming the second major Latin American airline to suggest that it may cease to exist due to the outbreak.
Kilgen wrote:CM says that it may not have enough reserves to last COVID-19 Pandemic.
Copa Holdings, S.A. Prices $350,000,000 Convertible Senior Notes Offering
Copa Holdings, S.A. (NYSE: CPA) today announced the pricing of its offering of $350,000,000 aggregate principal amount of 4.50% convertible senior notes due 2025 (the "notes") in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act").
The notes will be senior, unsecured obligations of Copa and will accrue interest at a rate of 4.50% per annum, payable semi-annually in arrears on April 15 and October 15 of each year, beginning on October 15, 2020. The notes will mature on April 15, 2025, unless earlier repurchased, redeemed or converted. Copa will settle conversions by paying or delivering, as applicable, cash, shares of its Class A common stock or a combination of cash and shares of its Class A common stock, at Copa's election. The initial conversion rate is 19.3564 shares of Class A common stock per $1,000 principal amount of notes, which represents an initial conversion price of approximately $51.66 per share of Class A common stock.
SJOtoLIR wrote:This same problem extends to ground borders in a way. The biggest issue is how Nicaragua's handling of the virus (or lack thereof). While Panama is doing something, Nicaragua (specifically their regime) just doesn't care. And this would be an important factor for deciding to reopen the borders. Personally, I'd keep the border crossings up north (e.g. Peñas Blancas and Tablillas) closed indefinitely for the time being (except to freight) and put in place a list of countries banned from operating into Costa Rica when LIR and SJO reopen that would include Nicaragua (also temporarily).Based on the Costa Rican Ministry of Health speach on local media yesterday, the forecast for the opening of our borders seem to be focused into a long-term path.
Having said that, the national borders including both SJO and LIR wouldn't be opened again on May 15th as scheduled before.
My concern is how long would the commercial aviation industry support this situation, taking into account their zero-revenues since a long time ago.
juanchito wrote:La Aurora will algo got the visit from Aeromexico B787-9
Panama's Copa Airlines planning to retire Boeing 737-700 fleet
Panama’s Copa Airlines said on Thursday that it is planning to retire early its fleet of 14 older Boeing 737-700 NG planes, the latest carrier to do away with planes due to the coronavirus crisis.
SJOtoLIR wrote:both SJO and LIR wouldn't be opened again on May 15th as scheduled before.
SJOtoLIR wrote:So Copa Airlines has changed their intended plans consisting in the retirement of the Embraer E90 fleet.
SJOtoLIR wrote:And I'm hearing concerns about this possibly causing food shortages in Costa Rica. But as far as I know, the borders will only let cargo transportation into the country at this time, so I'm not worried (especially since the government announces the import of beans from Nicaragua).SJOtoLIR wrote:both SJO and LIR wouldn't be opened again on May 15th as scheduled before.
Update: All the Costa Rican borders will be close till June 15th.
Copa Chief Executive Pedro Heilbron told analysts on Thursday."We're not requesting nor are we expecting any aid from the government,"
"I think the government has bigger issues to deal with."
Copa Holdings (CPA) Q1 Earnings and Revenues Beat Estimates
Copa Holdings (CPA) came out with quarterly earnings of $1.75 per share, beating the Zacks Consensus Estimate of $1.56 per share. This compares to earnings of $2.11 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 12.18%. A quarter ago, it was expected that this holding company for Panama's national airline would post earnings of $1.98 per share when it actually produced earnings of $2.17, delivering a surprise of 9.60%.
Copa Holdings, which belongs to the Zacks Transportation - Airline industry, posted revenues of $595.45 million for the quarter ended March 2020, surpassing the Zacks Consensus Estimate by 0.46%. This compares to year-ago revenues of $672.17 million. The company has topped consensus revenue estimates four times over the last four quarters.
SJOtoLIR wrote:SJOtoLIR wrote:both SJO and LIR wouldn't be opened again on May 15th as scheduled before.
Update: All the Costa Rican borders will be close till June 15th.