Copa Airlines Acquires Delivery of New Boeing 737-800 with Advanced-Technology; Aircraft is # 19 In Airline's Fleet Renovation Plan; 737-800 is Largest in Copa Fleet.

PANAMA CITY, Panama -- Copa Airlines announced delivery of its third Boeing 737-800 "Next Generation" aircraft, the most technologically advanced passenger aircraft available and the largest in the Copa fleet. By the end of 2004, Copa will have 20 high-tech Boeing 737-700 and 800 aircraft in its fleet.

In February 2005, Copa will take delivery of its 21st Boeing 737, which will complete its fleet renewal plan. At that point, Copa will have the most modern fleet in the Americas.

Like all other Copa aircraft, this 737-800 features a sophisticated flight deck instrument called Vertical Situation Display (VSD), which builds on an Enhanced Ground Proximity warning system that provides pilots a clear view of the airplane's current and predicted flight path.

The new 737-800s also feature "blended winglets," an advanced wing design that allows the aircraft to fly faster and quieter, at higher altitudes and in hotter temperatures, making it more fuel-efficient. Winglets contribute to lower operating costs and enable the airline to impose fewer restrictions on number of passengers or amount of cargo.

"We continue our goal to provide the most leading airline fleet in the Americas," said Pedro Heilbron, CEO, Copa Airlines. "By investing in technology and on-board comfort, Copa Airlines is prepared to deliver the best travel option for our passengers."

The Boeing 737-800 has capacity for 155 passengers, 14 in Business Class (Clase Ejecutiva) and 141 in the main cabin. The aircraft has spacious interiors with large overhead compartments, seats with adjustable headrests and a 12-channel audio and video entertainment system.

Copa Airlines (www.copaair.com), which began service in 1947, today flies to 31 destinations in 20 countries in North, Central and South America and the Caribbean from its Hub of the Americas at Tocumen International Airport in Panama City, Panama. Copa offers flights to 120 other international destinations through codeshare agreements with Continental and Mexicana airlines. Copa and Continental also share a strategic alliance partnership that includes joint participation in Continental's award-winning frequent flyer program, OnePass(R). A leader in aviation industry technology, Copa is the first airline in the Americas to utilize the Vertical Situation Display (VSD) flight deck instrument and has one of the best on-time performance records worldwide. SkyTrax classified Copa as "Best Airline in Central America, Mexico and the Caribbean" in April 2004, based on a passenger survey. In June 2004, America Economia Magazine named Copa one of the "25 Best Employers in Latin America."

Copa Airlines offers nonstop service to Panama City from four U.S. cities: daily from New York city, twice daily from Miami, daily from Los Angeles, and four times a week from Orlando. For more company information, visit www.copaair.com.