Copa Airlines Applies Surcharge on Routes to and from the United States; Rising Price of Jet Fuel Necessitates Surcharge.

PANAMA CITY, Panama -- Copa Airlines announced today that it will apply a surcharge of $15 US each way on all its fares on routes to and from the United States, effective as of today.

The increase is necessary to offset the rise in jet fuel costs that have surpassed $50 US per barrel in the last few months, exceeding historic levels. For the same period in 2003, the price per barrel was $26.34 US, representing an increase of 109 percent since that time. As a result, the cost of jet fuel has increased 96 percent, in comparison to last year's prices.

"The rising price of oil has brought about an increase in our annual operating costs because of the significant increase in the price of jet fuel," said Jorge Garcia Icaza, Commercial Vice President, Copa Airlines. "We regret having to pass on a portion of this increase to our passengers; however, we must do so in order to continue offering the same level of excellence in our routes to and from the United States."

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. For more company information, visit www.copaair.com.