PANAMA CITY, March 23, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Copa Holdings, S.A. (NYSE: CPA) announces the following events:

Earnings Release -- 4Q05 and Full Year 2005
    Date:                 Thursday, March 30, 2006
    Time:                 Before U.S. markets open

    Where:                This release will be available on our Web site:
                          http://www.copaair.com/investor/default.aspx


    Conference Call and Webcast
    Date:                 Friday, March 31, 2006
    Time:                 11:00 a.m. EST
    Conference Call

     Telephone Number:    800-289-0572 (U.S. Domestic Callers)
                          913-981-5543 (International Callers)

    Webcast:              http://www.copaair.com/investor/default.aspx

    Speakers:             Pedro Heilbron, Chief Executive Officer
                          Victor Vial, Chief Financial Officer

Listeners should access the Web site several minutes prior to the scheduled start time, allowing sufficient time to register and download and install any necessary software. If you are unable to listen or access this presentation at the scheduled time, a Webcast replay option will be available at the above Web site shortly after the conference.

Copa Holdings, S.A. (NYSE: CPA), through its Copa Airlines and AeroRepublica operating subsidiaries, is a leading Latin American provider of passenger and cargo service. Copa Airlines currently offers approximately 80 daily scheduled flights to 30 destinations in 20 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 codeshare agreements with Continental Airlines and other airlines. AeroRepublica, 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 daily flights from Medellin and Cartagena.

CPA-G

SOURCE Copa Holdings, S.A.

Investors, Joseph Putaturo, Copa Holdings, +011-507-303-3348, or
jputaturo@copaair.com

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