Copa Holdings' Consolidated November Traffic up 19.3%

Copa Holdings, S.A. CPA, and its Copa Airlines and Copa Airlines Colombia operating subsidiaries, today released preliminary passenger traffic statistics for November 2010: For the month of November 2010, Copa Holdings' system-wide passenger traffic increased 19.3%, while capacity increased 20.1%. System load factor for November 2010 was 80.3%, a 0.5 percentage point decrease when compared to November 2009. Copa Airlines passenger traffic for November 2010 increased 18.4%, while capacity increased 17.8%. This resulted in a load factor of 82.2%, a 0.4 percentage point increase when compared to November 2009. Copa Airlines Colombia passenger traffic for November 2010 increased 32.6%, while capacity increased 32.6%. Load factor for the month reached 70.5%, a 4.5 percentage point decrease when compared to November 2009. Copa Airlines Colombia's capacity growth was mostly as a result of additional international capacity, which for November 2010 represented 35.7% of total capacity compared to 20.5% in November 2009.