Copa Airlines Receives New Boeing 737-700 Aircraft With Winglets; The Airline Takes Delivery of the 10th Boeing 737-700.

Business Editors & Travel/Transportation Writers

PANAMA CITY, Panama--(BUSINESS WIRE)--July 24, 2002

Copa Airlines announced today the delivery of its tenth new Boeing 737-700 Next-Generation aircraft.

The airline will have an additional delivery of a 737-700 in November and December, bringing its total of 737-700s to 12 and completing the first phase of a fleet rejuvenation plan the airline began in 1999.

"Copa Airlines continues to succeed not only with its fleet renewal plan, but also in its on-time performance records, and high-quality customer service," said Jorge Garcia Icaza, commercial vice president, Copa Airlines. "An airline can have the youngest, most modern fleet in the world, but if its customer service and on-board experience is not good, its customers will find other alternatives."

Copa Airlines' Boeing 737-700 aircraft has seating for 124 passengers, 12 in Business Class (Clase Ejecutiva) and 112 in the main cabin. The aircraft features spacious interiors with larger overhead storage bins, variable positioning seats with adjustable headrests and "wings" and 12-channel audio and video entertainment systems.

The new 737-700 is also equipped with new high-tech "winglets" that greatly improve performance, enabling the aircraft to fly at higher altitudes (41,000 feet -- higher than any other in its class), greater distances, more quietly and with greater fuel efficiency. The "winglet"-equipped aircraft can carry up to 6,000 pounds more payload and has reduced engine-maintenance costs.

Copa Airlines' newest Boeing 737-700 will be used on routes from the airline's "Hub of the Americas" in Panama City to San Juan, Puerto Rico and Caracas, Venezuela.

Copa formed a strategic alliance with Continental Airlines in 1999 that includes interconnected routes systems, seamless travel on international flights between the United States and Latin America, a shared OnePass frequent flyer program, and other customer benefits such as access to Presidents Club in Panama and around the world.

With more than 55 years of experience, Copa Airlines (www.copair.com) serves 29 destinations in 19 countries in North, Central and South America and the Caribbean. In September 2001, Copa was named to the "Excelencia 2001" ("Excellence 2001") list in America Economia for the Airline "innovation, creativity and leadership in the field of aviation." From its base at Tocumen International Airport in Panama City, Copa Airlines operates the Hub of the Americas, one of the most efficient and successful hubs in Latin America. In 2002, the airline expects to transport 1.2 million passengers.