Panama's Copa Airlines reports flat profit despite Boeing MAX grounding

Panama’s Copa AirlinesWednesday reported a quarterly profit of $50.9m, roughly the same as a year ago, in spite of the prolonged grounding of its most cost-efficient planes, the Boeing 737 MAX, following two deadly accidents. Copa was expecting to receive seven MAX planes since the grounding began, bringing its MAX fleet to a total of 13, the company said in a securities filing. It operated a fleet of 104 planes in the quarter.<br/>