Pablo Monsede

Pablo Monsede asked if Venezuela destinations are included differently in this year's guidance, implying potential upside or incremental costs from expansion, and inquired about interesting trends related to the World Cup this summer.

Answer

CEO Pedro Heilbron clarified that Venezuela is not material to the guidance, and no significant changes are expected to alter results, whether capacity grows there or in other markets. Regarding the World Cup, Mr. Heilbron noted that changing demand patterns due to the event pose a challenge, requiring the team to minimize surprises from varying flight fullness and passenger vacation shifts. Copa will fly extra sections to Toronto for Panama's games and is managing the rest of the network accordingly. CFO Peter Donkersloot added that it would be positive if two countries Copa serves reach the final.