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Panama's Copa Airlines posts $169 million loss but reduces cash burn

Feb 10 (Reuters) - Panama’s Copa Airlines on Wednesday reported a net loss of $169 million for the fourth quarter, but said a mark-to-market loss on its convertible debt had added $80 million in losses to its bottom line.

Copa significantly reduced its cash burn during the quarter to $6 million a month during the quarter, a key metric for airlines operating amid the pandemic. Cash consumption in Q3 was $36 million a month. (Reporting by Marcelo Rochabrun Editing by Chris Reese)

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