Copa Holdings Announces 15.5% Traffic Growth for January 2009

PANAMA, Feb. 4 /PRNewswire-FirstCall/ -- Copa Holdings, S.A. (NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries, today released preliminary passenger traffic statistics for January 2009:

    Copa Holdings (Consolidated)    January       January      Change
                                      2009          2008        (%)
    ASM (mm) (1)                      856.0         725.7       18.0%
    RPM (mm) (2)                      666.1         576.8       15.5%
    Load Factor (3)                    77.8%         79.5%      -1.7 p.p.
    Copa Airlines
    ASM (mm) (1)                      715.9         592.1       20.9%
    RPM (mm) (2)                      568.6         484.7       17.3%
    Load Factor (3)                    79.4%         81.9%      -2.4 p.p.
    Aero Republica
    ASM (mm) (1)                      140.1         133.6        4.9%
    RPM (mm) (2)                       97.5          92.1        5.9%
    Load Factor (3)                    69.6%         68.9%       0.6 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 January 2009, Copa Holdings’ system-wide passenger traffic (RPM) increased 15.5%, while capacity (ASM) increased 18.0%. System load factor for January 2009 was 77.8%, a 1.7 percentage point decrease when compared to January 2008.

Copa Airlines passenger traffic (RPM) for January 2009 increased 17.3%, while capacity (ASM) increased 20.9%. This resulted in a load factor of 79.4%, a 2.4 percentage point decrease when compared to January 2008.

Aero Republica passenger traffic (RPM) for January 2009 increased 5.9, while capacity (ASM) increased 4.9%. Load factor for the month was 69.6%, a 0.6 percentage point increase when compared to January 2008.

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 144 daily scheduled flights to 45 destinations in 24 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, Medellin and Pereira. Additionally, in May 2008 Aero Republica increased international service by launching direct daily flights to Caracas, Venezuela from the cities of Bogota and Medellin.

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