Copa Holdings January Traffic up 20.7%

Copa Holdings, S.A. CPA, and its Copa Airlines and Copa Airlines Colombia operating subsidiaries, today released preliminary passenger traffic statistics for January 2011: For the month of January 2011, Copa Holdings' system-wide passenger traffic (RPM) increased 20.7%, while capacity (ASM) increased 24.0%. System load factor for January 2010 was 79.3%, a 2.2 percentage point decrease when compared to January 2010. Copa Airlines passenger traffic (RPM) for January 2011 increased 21.3%, while capacity (ASM) increased 25.2%. This resulted in a load factor of 79.9%, a 2.6 percentage point increase when compared to January 2010. Copa Airlines Colombia passenger traffic (RPM) for January 2010 increased 17.0%, while capacity (ASM) increased 17.9%. Load factor for the month reached 75.8%, a 0.5 percentage point decrease when compared to January 2010.