Copa Holdings Announces Monthly Traffic Statistics for April 2008

PANAMA CITY, May 9 /PRNewswire-FirstCall/ -- Copa Holdings, S.A. (NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries, today released preliminary passenger traffic statistics for April 2008:

    Copa Holdings  (Consolidated)              April       April      Change
                                                2008        2007       (%)
    ASM (mm) (1)                               662.6       617.5        7.30%
    RPM (mm) (2)                               472.5       443.5        6.50%
    Load Factor (3)                           71.30%      71.80%    -0.5 p.p.

    ASM (mm) (1)                               553.4       488.3       13.30%
    RPM (mm) (2)                               419.3       375.9       11.50%
    Load Factor (3)                           75.80%      77.00%    -1.2 p.p.

    ASM (mm) (1)                               109.2       129.3      -15.50%
    RPM (mm) (2)                                53.2        67.6      -21.30%
    Load Factor (3)                           48.70%      52.30%    -3.6 p.p.

     1.  Available seat miles - represents the aircraft seating capacity
         multiplied by the number of miles the seats are flown
     2.  Revenue passenger miles - represents the numbers of miles flown by
         revenue passengers
     3.  Load factor  - represents the percentage of aircraft seating capacity
         that is actually utilized

For the month of April 2008, Copa Holdings' system-wide passenger traffic (RPM) increased 6.5%, while capacity (ASM) increased 7.3%. System load factor for April 2008 was 71.3%, a 0.5 percentage point decline when compared to April 2007.

Copa Airlines passenger traffic (RPM) for April 2008 increased 11.5%, while capacity (ASM) increased 13.3%. This resulted in a load factor of 75.8%, a 1.2 percentage point decline when compared to April 2007.

Aero Republica passenger traffic (RPM) for April 2008 decreased 21.3%, while capacity (ASM) decreased 15.5%. Aero Republica's load factor for the month was 48.7%, a 3.6 percentage point decline when compared to April 2007. Capacity reduction came as a result of Aero Republica's ongoing transition to smaller gauge EMBRAER-190 aircraft.

Copa Holdings, through its Copa Airlines and Aero Republica operating subsidiaries, is a leading Latin American provider of passenger and cargo service. Copa Airlines currently offers approximately 126 daily scheduled flights to 41 destinations in 22 countries in North, Central and South America and the Caribbean. In addition, Copa Airlines provides passengers with access to flights to more than 120 other international destinations through code share agreements with Continental Airlines and other airlines. Aero Republica, the second-largest domestic carrier in Colombia, provides service to 12 cities in Colombia as well as international connectivity with Copa

Airlines' Hub of the Americas through flights from Bogota, Bucaramanga, Cali, Cartagena and Medellin.

    CPA-G