COPA AIRLINES ANNOUNCES FLEET EXPANSION WITH NEW BOEING AIRCRAFT ORDER; INCLUDES OPTIONS...

COPA AIRLINES ANNOUNCES FLEET EXPANSION WITH NEW BOEING AIRCRAFT ORDER; INCLUDES OPTIONS TO ACQUIRE UP TO 12 NEXT GENERATION 737S



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Panama City, Panama–(HISPANIC PR WIRE – BUSINESS WIRE)–Aug. 27, 2002–Copa Airlines announced today a new order for up to twelve Boeing Next-Generation 737 aircraft valued at approximately $650 million U.S. dollars.

This includes a firm order for six planes and rights to acquire six additional Next-Generation 737. The firm order includes two 737-800s and four 737-700s, fulfilling Copa’s commitment to fleet renewal and growth. Deliveries are scheduled to begin in October 2003.

“The new aircraft order is a testament of Copa’s on-going effort to maintain a young fleet and to provide the best travel experience for our passengers,” said Pedro Heilbron, Chief Executive Officer, Copa Airlines. “The significant advantages in reliability, superior performance and lower maintenance costs resulting from our young fleet have allowed Copa Airlines to be the leading carrier in our region,” added Heilbron.

The Next-Generation Boeing 737-700 and 800 series are faster, quieter and more fuel-efficient than older Boeing 737 models. The excellent economics, passenger comforts and range characteristics of the new 737s will allow Copa to continue to grow its “Hub of the Americas” in Panama. The 737-700 accommodates 124 passengers with 12 business class and 112 main cabin seats. The 737-800 accommodates 155 passengers with 14 business class and 141 main cabin seats. Equipped with high-capacity overhead storage bins, comfortable interiors, variable positioning seats with adjustable headrests and “wings,” and state of the art on-board entertainment system, both aircraft will provide customers with the latest in technology and comfort.

“Boeing is honored that Copa Airlines has again selected the Boeing Next-Generation 737 for its fleet expansion,” said John Wojick, Vice President of Sales for Latin America and the Caribbean, Boeing Commercial Airplanes. “Since entering Copa’s fleet in 1999, the Next-Generation 737 has repeatedly demonstrated its fuel efficiency and long-range capability, flying four of the longest scheduled 737 routes in the world. These new aircraft will feature advanced winglet technology, providing reduced fuel burn and maintenance costs as well as greater range and flexibility.”

With more than 55 years of experience, Copa Airlines (http://www.copaair.com) serves 29 destinations in 19 countries in North, Central and South America and the Caribbean. In September 2001, Copa was named to the “Excelencia 2001” (“Excellence 2001”) list in America Economia for “innovation, creativity and leadership in the field of aviation.” From its base at Tocumen International Airport in Panama City, Copa Airlines operates the Hub of the Americas, one of the most efficient and successful hubs in Latin America. In 2002, the airline expects to transport 1.2 million passengers.

–30–sg/sa*

CONTACT:

Copa Airlines

Carol Schliesinger-Cura,

210/619-2022 – U.S.A.

or

Patricia Roquebert,

507/225-7655 – Panama

COPA AIRLINES ANNOUNCES FLEET EXPANSION WITH NEW BOEING AIRCRAFT ORDER; INCLUDES OPTIONS TO ACQUIRE UP TO 12 NEXT GENERATION 737S