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

RIO DE JANEIRO, BRAZIL – Panama’s Copa Airlines on Wednesday, February 11th, reported a net loss of US$169 million for the fourthquarter, but said a mark-to-market loss on its convertible debthad added US$80 million in losses to its bottom line.

Copa significantly reduced its cash burn during the quarterto US$6 million a month during the quarter, a key metric forairlines operating amid the pandemic. Cash consumption in Q3 was US$36 million a month.

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