PANAMA CITY, April 11, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Copa Holdings, S.A. (NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries, today released preliminary passenger traffic statistics for March 2007:

                                     March     March     Change
    Copa Holdings  (Consolidated)     2007      2006      (%)
    ASM (mm) (1)                     636.2     551.8     15.3%
    RPM (mm) (2)                     478.0     392.5     21.8%
    Load Factor (3)                  75.1%     71.1%      4.0 p.p.

    Copa Airlines
    ASM (mm) (1)                     503.5     420.6     19.7%
    RPM (mm) (2)                     411.9     331.6     24.2%
    Load Factor (3)                  81.8%     78.8%      3.0 p.p.

    AeroRepublica
    ASM (mm) (1)                     132.6     131.2      1.1%
    RPM (mm) (2)                     66.0      60.9       8.5%
    Load Factor (3)                  49.8%     46.4%      3.4 p.p.

    1.  Available seat miles (ASM) - represents the aircraft seating capacity
         multiplied by the number of miles the seats are flown.
    2.  Revenue passenger miles (RPM) - represents the numbers of miles flown
         by revenue passengers
    3.  Load factor - represents the percentage of aircraft seating capacity
         that is actually utilized

For the month of March 2007, Copa Holdings' system-wide passenger traffic (RPM) increased 21.8%, while capacity (ASM) increased 15.3%. System load factor for March 2007 was 75.1%, an increase of 4 percentage points when compared to March 2006.

Copa Airlines passenger traffic (RPM) for March 2007 increased 24.2% while capacity (ASM) increased 19.7%. This resulted in a load factor of 81.8%, an increase of 3 percentage points when compared to March 2006.

Aero Republica passenger traffic (RPM) for March 2007 increased 8.5%, while capacity (ASM) increased 1.1%. Aero Republica's load factor for the month was 49.8%, a 3.4 percentage point increase when compared to March 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 currently offers approximately 110 daily scheduled flights to 36 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 codeshare 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, Cali, Cartagena and Medellin.

CPA-G

SOURCE Copa Holdings, S.A.

Joseph Putaturo - Panama, Director-Investor Relations, Copa Holdings, +1-507-304-2677

http://www.copaair.com

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