Copa Holdings Announces 6.6% Traffic Growth for August 2009

PANAMA CITY, Sept. 8 /PRNewswire-FirstCall/ — Copa Holdings, S.A.
(NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries,
today released preliminary passenger traffic statistics for August 2009:

                                      August      August      Change
    Copa Holdings  (Consolidated)      2009        2008        (%)

    ASM (mm) (1)                       869.0      790.6        9.9%
    RPM (mm) (2)                       659.7      618.8        6.6%
    Load Factor (3)                    75.9%      78.3%   -2.3 p.p.

    Copa Airlines Segment
    ASM (mm) (1)                       730.4      657.1       11.1%
    RPM (mm) (2)                       556.0      528.7        5.2%
    Load Factor (3)                    76.1%      80.5%   -4.3 p.p.

    Aero Republica Segment
    ASM (mm) (1)                       138.6      133.5        3.8%
    RPM (mm) (2)                       103.7       90.1       15.0%
    Load Factor (3)                    74.8%      67.5%    7.3 p.p.

1. Available seat miles – represents the aircraft seating capacity
multiplied by the number of miles the seats are flown.

2. Revenue passenger miles – represents the numbers of miles flown by
revenue passengers

3. Load factor – represents the percentage of aircraft seating capacity
that is actually utilized

For the month of August 2009, Copa Holdings’ system-wide passenger traffic
(RPM) increased 6.6% while capacity (ASM) increased 9.9%. System load factor
for August 2009 was 75.9%, a 2.3 percentage point decrease when compared to
August 2008.

Copa Airlines passenger traffic (RPM) for August 2009 increased 5.2%,
while capacity (ASM) increased 11.1%. This resulted in a load factor of 76.1%,
a 4.3 percentage point decrease when compared to August 2008.

Aero Republica passenger traffic (RPM) for August 2009 increased 15.0%,
while capacity (ASM) increased 3.8%. Load factor for the month was 74.8%, a
7.3 percentage point increase when compared to August 2008.

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 approximately 144 daily scheduled
flights to 45 destinations in 24 countries in North, Central and South America
and the Caribbean. In addition, Copa Airlines provides passengers with
access to flights to more than 120 other international destinations through
code share agreements with Continental Airlines and other airlines. Aero
Republica, the second-largest domestic carrier in Colombia, provides service
to 12 cities in Colombia as well as international connectivity with Copa
Airlines’ Hub of the Americas through flights from Bogota, Bucaramanga, Cali,
Cartagena, Medellin and Pereira. Additionally, Aero Republica has direct
flights to Caracas, Venezuela from Cartagena and Medellin, Colombia.

CPA-G

SOURCE Copa Holdings, S.A.