The agreement will continue consolidating Panama as an important aircraft repair center in Latin America
PANAMA CITY, Aug. 25 /PRNewswire-FirstCall/ -- Copa Airlines, subsidiary
of Copa Holdings, S.A. (NYSE: CPA), has renewed a three-year maintenance
service agreement (MSA) with Panama Aerospace Engineering (PAE), subsidiary of
Singapore Technologies Aerospace Ltd. (ST Aerospace).
The agreement will cover maintenance, repair and overhaul (MRO) services
for both Copa Airlines' and Aero Republica's fleet of Boeing 737-Next
Generation and Embraer-190 aircraft, which currently consists of 54 aircraft.
The agreement broadens the services provided by PAE by including MRO services
for both Copa and Aero Republica's Embraer-190 aircraft, as a result of PAE's
certification in April 2009 to service the Embraer-190.
'We are very pleased to renew this contract with ST Aerospace,' said Pedro
Heilbron, CEO of Copa Holdings. 'Our collaboration has allowed us to achieve
better efficiencies in our aircraft maintenance process by reducing aircraft
maintenance time and transportation costs, among others. This agreement will
enhance Panama's positioning to become one of the main centers of aircraft
maintenance in Latin America.'
For Copa Airlines this initiative represents noticeable benefits in
maintenance that range from major inspections, such as C Checks, to
manufacturer modifications and external paint, among others. PAE makes it
possible for Copa Airlines to have technical assistance for its aircraft near
its Hub of the Americas at Tocumen International Airport.
'Copa Airlines was the launch customer for our facility in Panama three
years ago, and this contract extension shows that Copa is pleased with the
support it has received and is confident that it can rely on ST Aerospace for
the maintenance of its fleet. Today's event also attests to the strong
systems and processes in place within our global network and to the ability of
the Group to leverage on its global resources to meet the needs of our
customers,' said Tay Kok Khiang, President, ST Aerospace.
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
services. 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.
About ST Aerospace
ST Aerospace (Singapore Technologies Aerospace Ltd.) is the aerospace arm
of ST Engineering. Operating a global MRO network with facilities in the
Americas, Asia Pacific and Europe, it is the world's largest aircraft MRO
provider with a global customer base that includes leading airlines,
airfreight and military operators. ST Aerospace is an integrated service
provider that offers a spectrum of maintenance and engineering services that
include airframe, engine and component maintenance, repair and overhaul;
engineering design and technical services; and aviation materials and
management services, including Total Aviation Support. ST Aerospace has
global staff strength of more than 7,000 engineers and technical specialists.
Please visit www.staero.aero.
CPA-G
SOURCE Copa Holdings, S.A.
