Copa Airlines Reports 87.5% On-Time Performance for 2008

PANAMA CITY, Jan. 15 /PRNewswire-FirstCall/ — Copa Airlines, a subsidiary
of Copa Holdings, S.A.(NYSE:CPA), registered an on-time performance of 87.5
percent for its flights in 2008, as well as a flight-completion factor of 99.6
percent. The airline measures on-time performance according to international
aviation-industry standards.

“At Copa we strive to provide our passengers a world-class service and
on-time performance is one of the keys to our success,” said Pedro Heilbron,
CEO of Copa Airlines. “All passengers want to arrive at their destinations on
time, whether they are traveling on business or for pleasure, and that is a
major reason why they continue to make Copa part of their travel plans year
after year.”

Copa Airlines maintains one of the best on-time performance records in the
aviation industry. Skytrax, the well-known independent aviation-research
company, selected Copa “Best Airline in Central America and the Caribbean” in
2008.

About Copa Holdings, S.A.

Copa Holdings, through its Copa Airlines and Aero Republica operating
subsidiaries, is a leading Latin American provider of passenger and cargo
service. Copa Airlines currently offers 144 daily scheduled flights to 45
destinations in 24 countries in North, Central and South America and the
Caribbean through its Hub of the Americas based in Panama City, Panama. In
addition, Copa Airlines provides passengers with access to flights to more
than 120 other international destinations through codeshare agreements with
Continental Airlines and other airlines. From the U.S., Copa offers nonstop
service to Panama 20 times a week from Miami; daily from New York City, Los
Angeles and Washington, D.C.; and 12 times a week from Orlando. Aero
Republica, the second-largest air carrier in Colombia, provides service to 12
cities in Colombia as well as international connectivity with Copa Airlines’
Hub of the Americas through daily flights from Bogotá, Cali and Medellin. For
more information, visit www.copaair.com.

CPA-G

SOURCE Copa Airlines