Copa Airlines Takes Delivery of New Boeing 737-700; Aircraft Is # 20 in Airline's Fleet Renovation Plan.

PANAMA CITY, Panama -- Copa Airlines announced today delivery of a new Boeing 737-700 aircraft. The new 737-700 is the final of four aircraft Copa has received this year, bringing its fleet total to 20 Boeing 737-700 and 800 aircraft.

Copa will take delivery of two more Boeing 737s in 2005 -- one in February and another in June -- for a total of 22 Boeing 737 aircraft, making Copa's fleet one of the youngest and most modern in the industry worldwide.

A leader in aviation industry technology, Copa is the first airline in the Americas to utilize Vertical Situation Display (VSD), a sophisticated flight deck instrument that builds on the Enhanced Ground Proximity Warning system. VSD is the most advanced aviation industry technology Boeing has developed.

"We are determined to deliver the best in service and technology to our passengers," said Pedro Heilbron, CEO, Copa Airlines. "Our fleet renovation enables us to continue to provide our customers with reliable air service."

The new Boeing 737-700s also are equipped with "blended winglets," advanced wing tip extensions that make this new Boeing 737 the newest and most technologically advanced airplane in its class. The design facilitates take-offs in high-altitude airports and at higher temperatures. The winglets also contribute to fuel efficiency, helping the airline reduce operational costs, extend its range, reduce engine maintenance costs and carry more passenger/cargo load on long-distance routes.

Like the other 700's, the new Boeing 737 has capacity for 124 passengers -- 12 in Business Class and 112 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). Copa Airlines 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.