PANAMA CITY, Oct 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 September 2006:

                                          September    September       Change
    Copa Holdings   (Consolidated)           2006         2005           (%)
    ASM (mm) (1)                            572.3        487.5           17.4%
    RPM (mm) (2)                            419.5        330.8           26.8%
    Load Factor (3)                          73.3%        67.9%        5.4 pp.
    Copa Airlines
    ASM (mm) (1)                            450.0        378.6           18.8%
    RPM (mm) (2)                            341.0        267.2           27.6%
    Load Factor (3)                          75.8%        70.6%        5.2 pp.
    AeroRepublica
    ASM (mm) (1)                            122.3        108.8           12.4%
    RPM (mm) (2)                             78.5         63.6           23.4%
    Load Factor (3)                          64.2%        58.5%        5.7 pp.

    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 September 2006, Copa Holdings' system-wide passenger traffic (RPM) increased 26.8%, while capacity (ASM) increased 17.4%. System load factor for September 2006 was 73.3%, an increase of 5.4 p.p. when compared to September 2005.

Copa Airlines passenger traffic (RPM) for September 2006 increased 27.6% while capacity (ASM) increased 18.8%. This resulted in a load factor of 75.8%, an increase of 5.2 p.p. when compared to September 2005.

AeroRepublica passenger traffic (RPM) for September 2006 increased 23.4%, while capacity (ASM) increased 12.4%. AeroRepublica's load factor for the month was 64.2%, a 5.7 p.p. increase when compared to September 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 35 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 and Medellin.

CPA-G

SOURCE Copa Holdings, S.A.

Joseph Putaturo, Panama, Director-Investor Relations for Copa Holdings, S.A.,
+1-507-304-2677

http://www.copaair.com

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