Copa Receives New Boeing 737, Aircraft #21 Of Fleet; Aircraft Arrival Completes Airline's Fleet Renovation Plan.

PANAMA CITY, Panama -- Copa Airlines has completed its fleet renovation plan with the arrival of its 21st Boeing 737-700 aircraft and the retirement of its last B737-200. The airline now has one of the newest commercial fleets in America and one of the most modern in the world.

Copa currently has 18 Boeing 737-700s and three Boeing 737-800s in its fleet. In May 2005, Copa will take delivery of a new Boeing 737-800. A leader in technology, Copa was the first airline in the Americas to incorporate Vertical Situation Display (VSD), a sophisticated Boeing-developed flight deck instrument that builds on an Enhanced Ground Proximity warning system.

"The arrival of each new aircraft allows us to guarantee reliable service and to maintain a quality product providing comfort and convenience to our passengers," said Pedro Heilbron, CEO, Copa Airlines. "As our fleet grows, we continue to offer more flights and connections through our Hub of the Americas to the major destinations of Latin America and the Caribbean."

The new 737-700s feature "blended winglets," an advanced wing design that allows the aircraft to fly faster and more quietly, at higher altitudes and in higher temperatures, making it more fuel-efficient. Winglets contribute to lower operating costs, reduce costs for engine maintenance and enable the airline to impose fewer restrictions on number of passengers or amount of cargo.

The new Boeing 737 has capacity for 124 passengers, 12 in Business Class (Clase Ejecutiva) 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). 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.