PANAMA, May 6 /PRNewswire-FirstCall/ -- The Board of Directors of Copa Holdings S.A. (NYSE: CPA) at its regular meeting held on April 6, 2009, declared an annual dividend of US$0.37 per share on all outstanding Class A and Class B shares. Although this dividend is the same amount per share paid in 2008, it represents 14% of 2008 consolidated net income. The determination to pay dividends in excess of the Company's current 10% annual dividend policy was made due to the Company's strong operational earnings, balance sheet and liquidity position. The dividend will be paid on June 15, 2009 to stockholders of record as of May 29, 2009.

About Copa Holdings

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 144 daily scheduled flights to 45 destinations in 24 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, Medellin and Pereira, as well as direct daily flights to Caracas, Venezuela, from the cities of Bogota and Medellin.

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SOURCE Copa Holdings S.A.