Copa Airlines Announces 2007 Expansion Plans

PANAMA CITY, May 31 /PRNewswire-FirstCall/ — Copa Airlines, subsidiary of Copa Holdings, S.A., , has announced that it will increase flight frequencies this summer to eight cities in the Americas, in some cases offering up to four daily schedules. Weekly frequencies will increase as follows:

                                              Weekly Flights   Destinations from Panama                 From:           To:   San Jose                                  28             35   Guatemala                                 28             35   Managua                                   21             28   San Salvador                               7             14   Orlando                                    6             11   Miami                                     14             20   Cancun                                     5             10   Lima                                      14             21   

With the new frequencies Copa will operate a total of 126 daily departures from its Hub in Panama City to 40 destinations in North, Central and South America and the Caribbean.

“The increase in destinations and flight frequencies makes it possible for our passengers to make good use of their travel time from start to finish, whether they are flying to or from Panama, or connecting to other flights at Copa’s Hub of the Americas in Panama,” said Pedro Heilbron, CEO, Copa Airlines. “Our new flights will contribute to the growth of trade and business relationships in the region, as well as promote tourism, helping to drive economic development.”

The airline also recently announced new nonstop service between its Hub in Panama and four cities in the Americas during 2007. New destinations previously announced for summer 2007 are Washington, D.C.; Punta Cana, Dominican Republic; Guadalajara, Mexico; and Cordoba, Argentina.

The Hub of the Americas continues to grow, making Panama the best hub for passengers traveling in the Americas. Some flight schedules and numbers will be modified as frequencies are increased. Copa suggests passengers verify new schedules and flight numbers in the flight information section of http://www.copaair.com/, or by consulting their travel agents.

Copa Airlines offers nonstop flights to Panama City, Panama from four cities in the United States: two times daily from Miami, daily from New York City, daily from Los Angeles, and six times a week from Orlando.

About Copa Holdings

Copa Airlines, with a fleet of 30 aircraft, currently offers over 110 daily flights to 36 destinations in 21 countries in North, Central and South America and the Caribbean. Copa also provides access to an additional 120 international destinations through code-share agreements with Continental Airlines and other airlines. For more information, visit http://www.copaair.com/.

About the Hub of the Americas

The Hub of the Americas offers convenient flight schedules designed for connecting times of less than 90 minutes, bags checked to the passenger’s final travel destination, and a variety of duty-free shops. Clase Ejecutiva (Business Class) passengers have access to the Presidents Club jointly operated by Copa Airlines and Continental Airlines.

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Copa Holdings, S.A.

CONTACT: Patricia Roquebert — Panama, +1-507-304-2672; Pamela Salazar — U.S., +1-210-277-2929

Web site: http://www.copaair.com/