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Quarterly revenues of $494 million also beat the Zacks Consensus Estimate of $483 million. Passenger traffic (on a consolidated basis) grew 6.2%. Load factor (percent of seats filled by passengers) expanded 490 basis points to 78.3% as traffic expanded while capacity contracted. Earnings Estimates Rise The carriers strong second-quarter results have naturally resulted in upward revisions in its earnings per share (EPS) estimates for the third quarter. The Zacks Consensus Estimate for the third quarter has increased 27 cents over the last 60 days to $1.14. We note that the Zacks Consensus Estimate for the third quarter is 34% higher than Copa Holdings EPS of 85 cents reported in the third quarter of 2015. The recently completed Rio Olympics, which resulted in a surge of tourists visiting the country, are expected to boost third-quarter results for this Latin American carrier. The Zacks Consensus Estimate for full-year 2016 is also on the rise and currently stands at $4.45 per share (up 66 cents over the last two months). Impressive Expansion Efforts We are encouraged by the carriers efforts to expand its operations. In July, the carrier added the third new destination this year as it launched flights to Rosario, Argentina. The carrier, which exited the second quarter with a fleet of over 100 planes, took delivery of one Boeing 737-800 aircraft during the quarter.
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The newly re-elected Labour leader said there was a desire to do things differently, promising "real-time" online debates about policy positions. MPs critical of his leadership should now focus on "making the party and the movement stronger", he told the BBC. His message to them was "make sure you agree on policy and go out and do it". The Labour leader, who was re-elected on Saturday with a larger mandate, acknowledged there were "differences of opinion" between him and many of his MPs on policy but there was also a "great deal of unanimity". 'Thirst for change' Mr Corbyn said he wanted a less top-down approach to policy making, with more input from grass roots activists and the party conference, which begins in Liverpool on Sunday, at the "centre of concluding policy debates". "There is a lot of thirst for change out there," he told Andrew Marr. "People want to see things done differently." In a wide-ranging interview, Mr Corbyn said he supported a huge programme of public investment in the economy and public ownership of key public services, including the NHS, education and transport. He insisted he could take Labour back into government after he was re-elected Labour leader on Saturday. Media captionJeremy Corbyn: Let's wipe that slate clean, from today, and get on with the work we have got to do as a party together He secured 61.8% of the vote, a bigger margin of victory than last year, as he comfortably saw off his challenger Owen Smith. He won easily in each of the three categories - winning the support of 59% of party members, 70% of registered supporters and 60% of affiliated supporters. After months of conflict with many of his MPs, on Saturday Mr Corbyn appealed for unity saying "we have much more in common than divides us".
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