Panama flight

Jim Albaugh of Boeing and Stanley Motta of Copa Airlines, show the agreement reached by the two companies.

The Panamanian airline Copa Airlines and American company Boeing aircraft signed a settlement of 2.6 billion dollars for the purchase of 32 aircraft, representing the largest business transaction in the history of relations between both countries.

The commitment took place at the headquarters of the Department of Commerce of the United States in the presence of the secretary of this entity, Gary Locke, who in his speech highlighted the strengthening of trade between the two countries.

“EU is the major trading partner of Panama, and this agreement confirms the commitment of both countries,” Locke said at the ceremony held the same day that the nations signed an agreement to exchange tax information.

As a representative of the Panamanian government, the vice president and foreign minister, Juan Carlos Varela participated in the ceremonial act who in his speech reinforced the words of Locke on trade between these countries, and said his presence shows the commitment of the state to companies that invest and employ thousands of Panamanians.

The agreement involved the chief executives of both companies: Pedro Heilbron of Copa Airlines, and Jim Albaugh of Boeing.

The 32 aircraft will be delivered between 2015 and 2018, are part of the mid term growth  plan of the company, said Heilbron.

Copa Holding’s president, Stanley Motta, and Vice President of Finance, Victor Vial, shared details of the funding for this operation, which was supported by a group of international banks such as Citibank, JP Morgan Chase, BNP Paribas, and Exim Bank of U.S. exports.

Motta said the loan was agreed at very low rates for the guarantees provided by the Exim Bank, an entity that is “strong enough to provide security to our financial commitment. Going to the market with this bank guarantee is like going with a paper from the United States government”, he said proudly, as the group’s shares rose.

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

Panamanian airline Copa is making a big bet: You’re tired of waiting around in overrun airports for long flights home.

To make the most of its central location between north and south, it is billing itself as a so-called “hub of the Americas.” Traditionally Miami and Silo Paulo have been the main points for jetting among Latin American airports, but that could change. The regional market, especially business travelers, has proven to be a lucrative niche.

Passengers say they like the shorter flights they take on Copa planes. Paolo Allegrini, South and Central America sales manager for the Plymouth, a U.S. rubber company, says he spends more than half of his working time flying up and down the Americas. Traveling from Brazil to Medellin or Caracas may be a bit of a headache, but connections at Panama City are swift and quite hassle free, he says. “The Panama hub is a great convenience,” he says. “Most of the time it works out quicker and much cheaper than Varig.”

While Copa has done all it can to boost business by making connections less stressful for high-margin business passengers, politics may help it out even more. Panama City has thrown its hat into the ring to host the permanent secretariat of the Free Trade Area or the Americas (FTAA), a hemispheric trade pact being negotiated by the 34 countries in the hemisphere. The city that lands this secretariat will create thousands of jobs. Miami and Port of Spain, Trinidad, among others, are also vying for the spot.

Even as fuel costs rise and competitors pull back, the carrier hasn’t been afraid to grow. From its Tocumen airport base in Panama City, Copa has expanded its network to 31 destinations in 20 countries, including most of South America’s capital cities. In January, Copa added new routes to Buenos Aires and the number of weekly flights with Brazil has risen to 11. It’s now adding a new daily flight to Sao Paulo and to Buenos Aires and increasing the number frequencies it services to other destinations such as Cancun and Orlando, Florida.

Copa, which is private, does not reveal how much money it makes, but it is an expanding airline in a crisis-ridden industry. Its available seat mileage rate, which measures its capacity to carry passengers, grew 13% in 2003. In 2004, the company expected traffic to grow another 13% and then jump to 21% in 2005.

Emboldened, in 2004 Copa bought 10 Embraer 190 jets. The airline has an option to buy another 20, which could bring the deal to $900 million. It was the first order for that type of aircraft by a Latin American carrier. The purchase also adds to its fleet of 29 Boeing 737s.

Copa CEO Pedro Heilbron brushes off concern about any increased overhead and the extra costs of maintaining a fleet of mixed aircraft. Before the purchase of the Embraer planes, Copa operated only Boeing planes. “We took a close look at all the factors involved, and this was the best option,” he says. “We end up gaining from this choice.”

Purchasing aside, the carrier will strengthen the synergies it has with Continental by joining the Sky Team international alliance of airlines, which includes Air France-KLM and Delta Airlines. Copa is now an associate member.

Strength. Even suppliers say Copa is a success. “It’s a business model for the industry. Few airlines have been able to weather the storm in recent years,” says Fred Curado, vice president of Embraer. “Fleet diversification is a brave move. It’s exactly what JetBlue has been doing,” Curado says, referring to U.S. low-cost pioneer JetBlue.

Copa Chairman Alberto Motta, now well into his 80s, recalls years ago when he joined Panamanian carrier Copa as a director. While still the controlling stakeholder in Copa, Motta today has taken a backseat to day-to-day company affairs. His most telling business move dates back from 1998, when he sold a 49% stake in Copa to Continental Airlines for an undisclosed sum.

The backing of a solid international partner allowed him to expand the company well beyond Central America’s borders. It also gave the airline enough financial muscle to endure the bruises the airline industry would take in the wake of the Sept. 11 attacks in the United States. “This considerably strengthened our credit position as we were able to start buying aircraft and expand,” says Motta.

Once upon a time, Copa flew only to Costa Rica on a DC-3 aircraft. Today, the carrier flies 1.6 million passengers a year across the hemisphere. It has a long way to go: American Airlines, long the region’s biggest carrier, says it has 703 planes and flew 15 million passengers through its Miami hub.

THIERRY OGIER * PANAMA CITY

COPYRIGHT 2005 Freedom Magazines, Inc.

COPYRIGHT 2005 Gale Group

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–Spirit Airlines announces weekly non-stop service between its Fort Lauderdale base and Panama City, Panama, beginning January 31, 2008. Panama City is Spirit’s 5th destination in Central America and its 40th destination overall. In addition to non-stop service from its Fort Lauderdale base, Spirit also will offer connecting service to Panama from its domestic network. Spirit serves all routes with its fleet of Airbus aircraft, the youngest in the Americas. Spirit Airlines previously announced three new destinations it will serve in 2007. Service to Ponce, Puerto Rico, begins November 1 with daily flights. The inaugural flight to Aruba is on November 10 with weekly flights. Daily service to Freeport, Grand Bahamas Island begins on December 13. (more)

Schedule for non-stop service effective January 31, 2008(1):

To Panama City from: Depart Arrive Flight # Stops Frequency Fort Lauderdale 11:00 pm 2:00 am 907 0 Monday, Thursday and Saturday

From Panama City to: Depart Arrive Flight # Stops Frequency Fort Lauderdale 2:50 am 5:45 am 914 0 Tuesday, Friday and Sunday

(1) Subject to foreign government approval

Fares: From Fort Lauderdale to Panama

$8.00

January 31, February 2,4,7,9,11 14, & 16

From Panama to Fort Lauderdale

$8.00

February 1,3,5,8,10,12,15,17

From Fort Lauderdale to Panama

$88.00

Valid for travel January 31, 2008 through April 30, 2008. Last day to purchase is November 2, 2007.

From Panama to Fort Lauderdale

$88.00

Valid for travel January 31, 2007 through April 30, 2008. Last day to purchase is November 2, 2007.

$8 must be booked on spiritair.com by 11:59 PM ET on November 2, 2007 for travel on the dates as specified by individual market and by market direction. All fares are for coach class travel unless otherwise indicated and reflect the spiritair.com discount. $88 fares are valid for travel between January 31, 2008 and April 30, 2008, but must be booked on spiritair.com by 11:59 PM ET on November 2, 2007. Fares are each way based on roundtrip purchase, and roundtrip travel is required, but these fares may be combined with other valid and applicable Spirit Airlines fares on other days of the week. Not all markets are operated on a daily basis — please check spiritair.com for details. All fares listed on spiritair.com are per customer for each way of travel and include the base fare plus a federal excise tax. Fares do not include (a) a segment tax of $3.40 per U.S. domestic flight segment (a flight segment is defined as one takeoff and landing) of a passenger’s itinerary; (b) up to $18 per round trip in local airport charges; or (c) a September 11th Security Fee of $2.50 per enplanement originating at a U.S. airport. International itineraries do not include governmental taxes and fees (including U.S. government excise tax) of up to $125 per round trip. Additionally, if sold in, or travel originates in a country outside of the U.S., additional taxes may apply (up to 22% of the fare value per country). Fares are capacity controlled and subject to availability, and will be highly restricted around certain holiday periods. Previously purchased tickets may not be exchanged for these new sale fares. Certain restrictions apply. For best results, please book early.

About Spirit Airlines

Spirit Airlines, Inc. is the largest Ultra Low Cost Carrier in the United States, Latin America and The Caribbean. Its all-Airbus fleet, the youngest in the Americas, flies more than 185 daily flights to 36 destinations. The company is based in Miramar, Florida, and employs 2,200 professionals.

Consult Spirit for current information or for information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

PANAMA CITY, Nov. 12 — Copa Holdings, S.A. , and its Copa Airlines and Aero Republica operating subsidiaries, today released preliminary passenger traffic statistics for October 2007. For the month of October 2007, Copa Holdings’ system-wide passenger traffic (RPM) increased 10.8%, while capacity (ASM) increased 17.9%. System load factor for October 2007 was 69.3%, a 4.4 percentage point decrease when compared to October 2006. Copa Airlines passenger traffic (RPM) for October 2007 increased 16.1% while capacity (ASM) increased 21.7%. This resulted in a load factor of 72.2%, a 3.5 percentage point decrease when compared to October 2006. (more)

Aero Republica passenger traffic (RPM) for October 2007 decreased 10.5%, while capacity (ASM) increased 4.5%. Aero Republica’s load factor for the month was 57.4%, a 9.6 percentage point decrease when compared to October 2006.

Copa Holdings, through its Copa Airlines and Aero Republica operating subsidiaries, is a leading Latin American provider of passenger and cargo service. Copa Airlines, based in Panama, currently offers approximately 126 daily scheduled flights to 40 destinations in 21 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.

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

Panama’s civil aviation authorities on Tuesday denied reports of an alleged attempt to hijack a Panamanian plane coming into the country from Havana.

Civil Aviation spokesman Victor De La Hoz told Panamanian television that the authorities “deny any attempt or report of a hijacking” on board Copa Airlines flight 231.

De la Hoz said the misunderstanding started when flight attendants served breakfast on board and noticed that one knife was missing in the first-class section of the plane. The subsequent search showed that one of the passengers had grabbed the knife as a “souvenir.”

Airport security officials arrested the man pending further investigation after the plane landed safely.

De La Hoz stressed that Panamanian authorities did not want to cause unnecessary alarm that might affect tourism.

A group of young Israelis caused a similar incident in Panama several years ago, when they took out toy water guns on board a flight.

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

Brian Homewood RIO DE JANEIRO

Copa Airlines of Panama has unveiled a new company image, the result of an alliance with Continental Airlines. The new look is shown on a Boeing 737-700, one of 12 scheduled for delivery over the next few years to replace existing aircraft. Copa Airlines has also added features to its service, including its Clase Ejecutiva – a business class cabin – and full participation in Continental’s OnePass frequent flier programme.

“We have designed our new image to build recognition of our brand among our customers everywhere we fly in the Americas. The new image truly captures who Copa Airlines is today and expresses the company’s attitude and its commitment to its customers,” says Pedro Heilbron, executive president of Copa Airlines.

Copa and Continental have rescheduled their international flights so they align and they intend to implement codesharing on international flights to the USA, the Caribbean, and Central and South America destinations, once government approval has been received.

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

Colombia’s number two carrier, AeroRepublica, is now owned by Panama’s Copa Airlines, which has bought about 85% of its shares. AeroRepublica will retain its brand in a “strategic alliance” with Copa, with significant technology transfers from Copa to AeroRepublica.

Copa bought its shares for an undisclosed sum from US and British investment groups, which also hold shares in Venezuela’s Aeropostal. It is unclear how Copa’s purchase will affect the alliance that Aeropostal unveiled last year with AeroRepublica and other carriers in Central America. The same investor groups that sold their AeroRepublica shares are reported to be interested in selling out of Aeropostal too.

Copa’s final equity stake will depend on how many minority shareholders elect to accept its offer.

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

Brazil’s low-cost carrier GOL is expanding its international presence by codesharing with Panama’s COPA Airlines. In the first phase, COPA is carrying GOL’s code on COPA flights between Panama and Brazil, and GOL carries COPA’s code on all its flights within Brazil from the gateways of Rio de Janeiro and Sao Paulo.

http://www.flightglobal.com/articles/2005/09/26/201854/gol-shares-codes-with-copa.html

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

PAUL LEWIS / WASHINGTON DC

Airline will expand services to the USA, and hopes to benefit from Continental link

Copa Airlines may seek to accelerate delivery of up to 12 additional Boeing 737-700/800s if, as the carrier expects, Panama is reinstated as a Category 1 country under the US Federal Aviation Administration’s International Aviation Safety Assessment (IASA) programme. Category 1 status would allow Copa to expand services to the USA.

The airline recently confirmed a follow-on order for four more 737-700s and the carrier’s first 155-seat stretch -800s, with deliveries starting in October next year at the rate of two aircraft a year. Copa has also taken options on six more aircraft for delivery in 2006, but has the flexibility to advance these.

“These options are exercisable 18 months before delivery and we could definitely accelerate this, not just with Category 1 but with market growth. Nothing has happened yet officially but Panama keeps working towards Category 1 and hopefully way before the first new aircraft arrive we’ll be Category 1,” says Pedro Heilbron, Copa president.

Panama was downgraded to Category 2 in May last year after an IASA audit found shortcomings in the country’s regulatory aviation oversight, forcing Copa to suspend its codeshare with Continental Airlines and freeze services to the USA. As a result new 737-700s or larger -800s cannot be added or substituted for those on the original operational specification.

Heilbron adds: “Expanding to the US market is a small part of our plans. We are looking at rights and route opportunities throughout Latin America.” The airline is planning for a 10-12% growth in capacity, maintaining current load factors around 65% and in, particular, hopes to increase frequencies to Colombia, Mexico and Venezuela.

The new aircraft will supplement 12 737-700s ordered in 1999, 10 of which are now in service, and replace Copa’s final eight -200s. All of the new 737-700/800s, along with the last four aircraft from the previous order, are being delivered equipped with blended winglets from Aviation Partners Boeing.

The airline plans to retrofit the winglets to four of its existing aircraft by next year, delivering a better than expected 4% improvement in specific fuel consumption.

In the long term, Copa expects to benefit from the tie-up between Continental, which owns 49% of the Panamanian carrier, and Delta Air Lines and Northwest Airlines and their respective SkyTeam and Wings alliances. “We see this as a great opportunity for us expanding ties with other airlines, especially Air France, Delta, KLM and Northwest,” says Heilbron.

http://www.flightglobal.com/Search/ZibbSearch.aspx?o=20&sKeywords=panama&content=site&cat=&searchType=site&sortBy=Relevance&filter=0

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)

BRENDAN SOBIE / SINGAPORE

Alliance airlines in talks with Panama carrier while rival group looks to replace Mexicana

SkyTeam is poised to further cement its dominance in Mexico and Central America with the expected addition of Panama’s Copa Airlines.

Copa, which has been aligned with Continental Airlines since 1998, is in talks to add alliances next year with Continental partners Alitalia, Delta Air Lines, KLM and Northwest Airlines.

“We will probably do something first with Alitalia and later in the year with Delta and KLM,” says Copa chief executive Pedro Heilbron. “Although it is still not clear on the exact role for Copa Airlines in SkyTeam or the timing to join, we do expect to participate in it. Our centrally located hub in the Americas in Panama and network of intra-Latin American routes will be a valuable addition to the group.”

Continental and Northwest also plan to join SkyTeam next year on the heels of their new triple alliance with SkyTeam co-founder Delta. SkyTeam already includes Aeromexico, but Copa has a codeshare with outgoing Star Alliance member Mexicana. Aeromexico and Mexicana parent Cintra plan a restructuring that could include more co-operation between the two Mexican carriers and potentially lead to both participating in SkyTeam.

With Mexicana due to leave the alliance on 31 March, Star is searching for a new partner in Mexico or Central America. But with Mexico’s two main carriers and Copa not interested, Star is banking on Grupo TACA joining.

TACA, flag carrier for all Central American countries except Panama, is now affiliated with Oneworld member American Airlines. But Star is hoping to gain TACA as a member because rival LanChile is already part of Oneworld. TACA and LanChile have started to cross paths in recent years as they both have been trying to expand by establishing new affiliates in Latin American countries that have weak or no flag carriers, such as Ecuador and Peru.

Continental will also extend SkyTeam’s domination in Mexico and Central America because its Houston hub has connections to over 30 cities in the region.

Copa serves 30 destinations in the Americas from its Panama City hub with a fleet of 16 Boeing 737-700/800s and six 737-200s that are to be replaced with new 737-700s/800s over the next two years.

Star Alliance is to establish a joint fuel procurement firm next year to purchase jet fuel more cheaply for its member airlines. FuelCo will be based in the USAand will manage fuel procurement at selected airports worldwide. Star chief executive Jaan Albrecht says FuelCo will complete large purchases to “bring the unit cost and complexity down”. Star is also working on a joint customer reservation system.

http://www.flightglobal.com/articles/2003/12/16/175247/skyteam-moves-to-add-copa-as-star-woos-taca.html

For information regarding getting to Panama, places to go, and things to see contact one of our travel experts today.

i...@panamatravelgroup.com

+507-202-1111 (Panama) | 1-786-539-4731 (USA)