Copa Holdings Secures Financing for Purchase of Boeing 737-800 Aircraft

Copa Holdings, S.A. CPA, today announced that J.P. Morgan has been mandated by Copa Airlines to provide Export-Import Bank of the United States guaranteed funding for five 737-800 aircraft scheduled to deliver in 2011. The Facility, totaling US$178.5 million, includes 12-year financing terms at very competitive rates and will finance all direct Boeing purchases scheduled for delivery to Copa Airlines in 2011. J.P. Morgan will act as the sole arranger and facility agent for the Term Loan Facility, which is available on delivery of the Aircraft on either a floating or fixed rate basis. COPA will also have the option to effect a conversion, subject to Ex-Im Bank's approval, of the floating rate term facility into a fixed rate term facility.