Copa Holdings Announces Monthly Traffic Statistics for May 2008

PANAMA CITY, June 9 /PRNewswire-FirstCall/ -- Copa Holdings, S.A.
(NYSE: CPA), and its Copa Airlines and Aero Republica operating subsidiaries,
today released preliminary passenger traffic statistics for May 2008:
May May Change
Copa Holdings (Consolidated) 2008 2007 (%)
ASM (mm) (1) 700.1 627.4 11.6%
RPM (mm) (2) 527.4 439.7 19.9%
Load Factor (3) 75.3% 70.1% 5.2 p.p.

Copa Airlines
ASM (mm) (1) 580.1 495.1 17.2%
RPM (mm) (2) 456.2 373.1 22.3%
Load Factor (3) 78.7% 75.4% 3.3 p.p.

Aero Republica
ASM (mm) (1) 120.0 132.3 -9.3%
RPM (mm) (2) 71.2 66.7 6.7%
Load Factor (3) 59.3% 50.4% 8.9 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 May 2008, Copa Holdings' system-wide passenger traffic
(RPM) increased 19.9%, while capacity (ASM) increased 11.6%. System load
factor for May 2008 was 75.3%, a 5.2 percentage point increase when compared
to May 2007.
Copa Airlines passenger traffic (RPM) for May 2008 increased 22.3%, while
capacity (ASM) increased 17.2%. This resulted in a load factor of 78.7%, a
3.3 percentage point increase when compared to May 2007.
Aero Republica passenger traffic (RPM) for May 2008 increased 6.7%, while
capacity (ASM) decreased 9.3%. Aero Republica's load factor for the month was
59.3%, an 8.9 percentage point increase when compared to May 2007. Capacity
reduction came as a result of Aero Republica's ongoing transition to smaller
gauge EMBRAER-190 aircraft.
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 126 daily scheduled
flights to 41 destinations in 22 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 code
share 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, Bucaramanga, Cali,
Cartagena and Medellin.

CPA-G

SOURCE Copa Holdings, S.A.

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