PANAMA CITY, Aug 10, 2006 /PRNewswire-FirstCall via COMTEX News Network/ -- Copa Holdings, S.A. (NYSE: CPA) and its Copa Airlines and AeroRepublica operating subsidiaries today released preliminary passenger traffic statistics for July 2006:

                                       July        July       Change
    Copa Holdings (Consolidated)       2006        2005          (%)
     ASM (mm) (1)                     599.2       520.0        15.2%
     RPM (mm) (2)                     468.6       408.4        14.7%
     Load Factor (3)                   78.2%       78.5%       -0.3p.p.
    Copa Airlines
     ASM (mm) (1)                     449.3       400.8        12.1%
     RPM (mm) (2)                     372.9       326.7        14.2%
     Load Factor (3)                   83.0%       81.5%        1.5p.p.
    AeroRepublica
     ASM (mm) (1)                     149.9       119.3        25.7%
     RPM (mm) (2)                      95.7        81.7        17.1%
     Load Factor (3)                   63.8%       68.5%       -4.7p.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 number of miles flown by
        revenue passengers
    (3)  Load factor -- represents the percentage of aircraft seating capacity
        that is actually utilized

For the month of July 2006, Copa Holdings' system-wide passenger traffic (RPM) increased 14.7%, while capacity (ASM) increased 15.2%. System load factor for July 2006 was 78.2%, a decrease of 0.3p.p. when compared to July 2005.

Copa Airlines passenger traffic (RPM) for July 2006 increased by 14.2%, while capacity (ASM) increased 12.1%. This resulted in a load factor of 83.0%, an increase of 1.5 p.p when compared to July 2005.

AeroRepublica passenger traffic (RPM) for July 2006 increased 17.1%, while capacity (ASM) increased 25.7%. AeroRepublica's load factor for the month was 63.8%, a 4.7p.p. decrease when compared to July 2005.

Copa Holdings, through its Copa Airlines and AeroRepublica operating subsidiaries, is a leading Latin American provider of passenger and cargo service. Copa Airlines currently offers approximately 110 daily scheduled flights to 34 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.

Joseph Putaturo, Director, Investor Relations, Panama, Copa Holdings,
+011-507-304-2677

http://www.prnewswire.com

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