PANAMA CITY, March 12, 2007 /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 February 2007:

                                       February       February       Change
    Copa Holdings (Consolidated)         2007           2006          (%)
      ASM (mm) (1)                      579.0          500.8         15.6%
      RPM (mm) (2)                      441.2          351.2         25.7%
      Load Factor (3)                    76.2%          70.1%         6.1 p.p.
    Copa Airlines
      ASM (mm) (1)                      459.8          380.4         20.9%
      RPM (mm) (2)                      380.8          292.6         30.1%
      Load Factor (3)                    82.8%          76.9%         5.9 p.p.
    AeroRepublica
      ASM (mm) (1)                      119.1          120.4         -1.1%
      RPM (mm) (2)                       60.5           58.6          3.2%
      Load Factor (3)                    50.8%          48.7%         2.1 p.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 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 February 2007, Copa Holdings' system-wide passenger traffic (RPM) increased 25.7%, while capacity (ASM) increased 15.6%. System load factor for February 2007 was 76.2%, an increase of 6.1 percentage points when compared to February 2006.

Copa Airlines passenger traffic (RPM) for February 2007 increased 30.1% while capacity (ASM) increased 20.9%. This resulted in a load factor of 82.8%, an increase of 5.9 percentage points when compared to February 2006.

AeroRepublica passenger traffic (RPM) for February 2007 increased 3.2%, while capacity (ASM) decreased 1.1%. AeroRepublica's load factor for the month was 50.8%, a 2.1 percentage point increase when compared to February 2006.

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 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. 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 Bogota, Cali and Medellin.

CPA-G

SOURCE Copa Holdings, S.A.

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

http://www.copaair.com

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