Panama-based airline places firm order for 13 airplanes and options for an additional eight
PANAMA CITY, July 16 /PRNewswire-FirstCall/ -- Copa Airlines, subsidiary
of Copa Holdings, S.A. (NYSE: CPA) and Boeing (NYSE: BA) today announced an
order for 13 Boeing 737-800 airplanes. At Boeing list prices, the new order
will represent a total investment of approximately $1 billion (USD).
The total number of Boeing Next-Generation 737s Copa has on firm order now
stands at 27. Delivery of the 13 newly ordered airplanes is scheduled to
begin in 2012 and end in 2015, with the eight additional options scheduled for
delivery between 2015 and 2017.
These new airplanes will be outfitted with Boeing's signature 'Sky
Interior' featuring new 787-style modern sculpted sidewalls and window reveals
that provide passengers with a greater connection to the flying experience.
They will also benefit from performance enhancements expected to result in a
two percent reduction in fuel consumption by 2011 through a combination of
airframe and engine improvements.
The Next-Generation 737 is the newest and most technologically advanced
airplane in its class. It flies higher, faster and farther than previous
models and competitors. In addition, its flight deck features the latest
liquid-crystal flat-panel displays and is designed to accommodate new
communications and flight-management capabilities.
'The Boeing 737s have been a major factor in Copa's success, providing us
with operating and cost efficiencies, and enabling us to offer our passengers
world-class service and an extensive route network throughout Latin America,'
said Pedro Heilbron, CEO of Copa Airlines. 'This order reaffirms our
confidence in our business model and the growth potential of Latin American
aviation.'
'Copa Airlines continues to be successful in a very challenging economic
environment through the use of the Next-Generation 737 latest technology and
superior economics,' said Scott Carson, President and CEO of Boeing.
Copa was the first carrier in the Americas to incorporate blended winglets
on its 737s. All of its Next-Generation 737s use the distinctive curved wing
ends, which improve fuel efficiency and lift while reducing engine wear and
carbon dioxide emissions. Copa also was the first in the region to order Next-
Generation 737s with the Vertical Situation Display (VSD) system, which
enhances safety by providing pilots with an easy-to-understand flight-path
view.
About Copa Holdings, S.A.
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. Additionally, Aero Republica has direct daily
flights to Caracas, Venezuela from Cartagena and Medellin, Colombia. For more
information, visit www.copaair.com.
CPA-G
SOURCE Copa Holdings, S.A.
