Posts for Ticker ‘CPA’

Airlines Hit By UBS & Swine Flu (CAL, AMR, LCC, UAUA, XJT, CPA)

burning-money-pic28Airlines are getting hit hard this morning before the open on two issues: swine flu and an analyst downgrade.  UBS has downgraded the US legacy airline sector in a broad call and the impact on some of these stocks looks exacerbated by the swine flu news.  The new sector ratings were taken to NEUTRAL from BUY.  Among the downgrades were Continental Airlines (NYSE: CAL). AMR Corp. (NYSE: AMR), US Airways (NYSE: LCC), and IAL Corp. (NASDAQ: UAUA).  There is also a secondary tie here for both ExpressJet Holdings Inc. (NYSE: XJT) and Copa Holdings SA (NYSE: CPA).
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Posted on: April 27, 2009 – 8:12 am in Airlines, Analyst Calls, Entertainment, Luxury, Trading Alert, Transports, , , , , ,

Continental Unloading Copa Shares (CPA, CAL)

Copa Holdings, S.A. (NYSE: CPA) announced today that it has filed a registration statement for a proposed offering of 3,977,300 Class A non-voting shares of Copa Holdings by selling shareholder Continental Airlines, Inc. (NYSE: CAL).

Morgan Stanley will be the sole book-running manager, while UBS Investment Bank will be the joint lead manager of this offering.  The underwriters also have an over-allotment option to purchase up to an additional 397,700 shares from Continental Airlines.

Continental will hold about 1.3% of the outstanding Class A shares if the underwriters do not exercise the over-allotment option; and it will not own any more Class A shares if the underwriters exercise the full over-allotment option. 

Copa Holdings will not receive any proceeds from the offering.

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Jon C. Ogg
May 12, 2008

Posted on: May 13, 2008 – 3:54 pm in Airlines, Secondary Offering, ,