Panama City-based Copa Holdings reported $113.1 million net income for the 2015 first quarter, down 25.3% from the company’s $151.4 million net profit in the 2014 March quarter. Copa Holdings—the parent company of Panama’s Copa Airlines and Copa Airlines Colombia—said the first-quarter results reflect the company’s transition to all US dollar ticket sales, which reduced passenger yields “driven in large part by the reduction in Venezuelan yields.” ...

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