Copa Holdings Announces Monthly Traffic Statistics for August 2008

PANAMA CITY, Sept. 10 /PRNewswire-FirstCall/ -- Copa Holdings, S.A. (NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries, today released preliminary passenger traffic statistics for August 2008:

    Copa Holdings  (Consolidated)        August       August       Change
                                          2008         2007          (%)
    ASM (mm) (1)                         790.6        715.1         10.6%
    RPM (mm) (2)                         618.8        529.6         16.8%
    Load Factor (3)                       78.3%        74.1%         4.2 p.p.

    Copa Airlines
    ASM (mm) (1)                         657.1        565.6         16.2%
    RPM (mm) (2)                         528.7        441.2         19.8%
    Load Factor (3)                       80.5%        78.0%         2.4 p.p.

    Aero Republica
    ASM (mm) (1)                         133.5        149.5        -10.7%
    RPM (mm) (2)                          90.1         88.4          1.9%
    Load Factor (3)                       67.5%        59.2%         8.4 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 August 2008, Copa Holdings' system-wide passenger traffic (RPM) increased 16.8%, while capacity (ASM) increased 10.6%. System load factor for August 2008 was 78.3%, a 4.2 percentage point increase when compared to August 2007.

Copa Airlines passenger traffic (RPM) for August 2008 increased 19.8%, while capacity (ASM) increased 16.2%. This resulted in a load factor of 80.5%, a 2.4 percentage point increase when compared to August 2007.

Aero Republica passenger traffic (RPM) for August 2008 increased 1.9%, while capacity (ASM) decreased 10.7%. Load factor for the month was 67.5%, an 8.4 percentage point increase when compared to August 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 42 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. 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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