Copa Holdings Announces Monthly Traffic Statistics for June 2008

PANAMA CITY, July 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 June 2008:

                                   June       June       Change
    Copa Holdings (Consolidated)   2008       2007        (%)
    ASM (mm)(1)                    730.0      634.8      15.0%
    RPM (mm)(2)                    558.8      462.4      20.8%
    Load Factor(3)                 76.5%      72.8%      3.7 p.p.

    Copa Airlines
    ASM (mm)(1)                    598.6      494.9      21.0%
    RPM (mm)(2)                    481.1      385.4      24.8%
    Load Factor(3)                 80.4%      77.9%      2.5 p.p.

    Aero Republica
    ASM (mm)(1)                    131.4      139.9      -6.1%
    RPM (mm)(2)                     77.7       76.9       1.0%
    Load Factor(3)                 59.2%      55.0%      4.2 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 June 2008, Copa Holdings' system-wide passenger traffic (RPM) increased 20.8%, while capacity (ASM) increased 15.0%. System load factor for June 2008 was 76.5%, a 3.7 percentage point increase when compared to June 2007.

Copa Airlines passenger traffic (RPM) for June 2008 increased 24.8%, while capacity (ASM) increased 21.0%. This resulted in a load factor of 80.4%, a 2.5 percentage point increase when compared to June 2007.

Aero Republica passenger traffic (RPM) for June 2008 increased 1.0%, while capacity (ASM) decreased 6.1%. Load factor for the month was 59.2%, a 4.2 percentage point increase when compared to June 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 services. 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. 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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