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Panama's Copa Airlines Shares Down On Swine
Flu Worries
Panama - New York Stock Exchange-listed
shares of Panama-based airline Copa Holding
SA (CPA) fell 11% Monday on nervousness
about the spreading of swine flu from
Mexico.
The stock was recently down $3.54 to $28.80.
Shares of publicly traded airlines around
the world fell on Monday, and Copa is in the
middle of the storm as it operates in the
Central American, South American and the
Caribbean markets from its hub in Panama.
The price decline is not specific to Copa
but is a global phenomenon, Joseph Putaturo,
the company's director for investor
relations, said.
"Copa will lose a lot of passengers, Panama
is the hub of Latin America," Rupert
Stebbings, a market analyst at Colombia's
largest brokerage Interbolsa SA, said.
Copa and its subsidiaries offer about 125
daily flights linking 40 destinations in 21
countries in the Americas from its Panama
City hub.
A group of Panamanian investors is Copa's
main shareholder. U.S. airlines Continental
Airlines Inc. (CAL) used to hold a minority
stake in Copa but sold it in the past few
years. |
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