PANAMA CITY, Panama–(HISPANIC PR WIRE – BUSINESS WIRE)–Feb. 6, 2003–Copa Airlines ranks high among airlines worldwide with a 2002 4th quarter on-time performance record of 91.27 percent.

The airline ended the year with an average on-time performance of 90.54 percent.

Copa Airlines measures its on-time performance utilizing the U.S. Department of Transportation (DOT) industry standard measure of a maximum 15-minute variation from the scheduled time of arrival. Copa Airlines’ 2002 average on-time performance record surpasses that of all main U.S. carriers, which, according to the DOT’s Air Travel Consumer report published in February 2003 was of 84% in 2002 for the top ranked carrier.

“We are proud of our consistent high-ranking on-time performance records, which serves as proof of our team’s strong dedication to provide the highest quality customer service,” said Jorge Garcia Icaza, Commercial Vice-President, Copa Airlines. “Because having a young fleet is key to maintaining a high on-time performance record, we are also committed to providing the youngest fleet in the region.”

Copa recently took delivery of a new Boeing 737 aircraft, which brought its total number of 737s to 20 and completed the first phase of a fleet rejuvenation plan the airline began in 1999. In Aug. of 2002, Copa announced a new order for up to 12 new 737 Boeing Next Generation aircraft valued at $650 million. This investment guarantees the airline’s growth and that of the Hub of the Americas in Panama.

Passengers can fly from the U.S. to Panama City on Copa Airlines via daily non-stop service from Los Angeles and Miami, as well as four times weekly from Orlando. Copa Airlines has a strategic alliance with Continental Airlines, including participation in Continental’s award-winning frequent flyer program OnePass(R). Members of the program may earn miles on either Copa or Continental flights, as well as the opportunity to redeem miles for tickets, upgrades, and merchandise.

With more than 55 years of experience, Copa Airlines (copaair.com) flies to 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 Magazine for “innovation, creativity and leadership en the field of aviation.” In November 2002, PODER Magazine and Booz, Allen & Hamilton and Egon Zehnder International gave Copa the “Best Regionalization in Latin America” award for its “successful development of its hub in Panama, which contributes to the continuous development of Latin America.”

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 2003, the airline expects to transport 1.3 million passengers.

–30–csd/sa*

CONTACT:

Copa Airlines

Patricia Roquebert, 507/225-7655 (Panama)

or

Carol Schliesinger-Cura, 210/619-2022 (U.S.A.)