Copa Holdings, S.A. (NYSE:CPA) Q3 2022 Earnings Call Transcript

Savi Syth: And then if I might on the kind of revenue strength that you’re seeing. Is there any kind of color that you can provide on business corporate has — it seems like most of the commentary we are hearing across the kind of various geographies is it’s really coming from leisure and VFR. Are you seeing kind of a more return to corporate, or — and I know some of the premium capacity in your markets have maybe come off, and wondering if that’s helping you gain any corporate share.

Pedro Heilbron: So it’s still mostly leisure, where the strength is coming from, but business is up. Our corporate accounts, for example, our — at 75% of pre-pandemic. And overall, business is now around 25% of total revenues before — in the previous quarters, it was about 20%. So we are seeing a little bit of an uptick in the business travel.

Savi Syth: Are you seeing an improvement? I mean is kind of our valuation right, is the premium seats in your — the competitive premium seats in your market lower now, or is that not never noticeable?

Jose Montero: I don’t think there’s that much of a switch. And you’re talking about competitors, right?

Savi Syth: Exactly.

Jose Montero: Yes.

Pedro Heilbron: Yes, we don’t — I don’t think there’s a clear picture there.

Operator: