Copa Holdings, Boeing Announce Deal For 15 737 MAX 10s

LE BOURGET, France, June 21, 2017 /PRNewswire/ -- Copa Holdings (NYSE:CPA) and Boeing (NYSE: BA) today announced an order for 15 737 MAX 10s at the 2017 Paris Airshow.  With this announcement, Copa Airlines is one of the launch customers for the 737 MAX 10 airplane and will be the first airline in Latin America to operate the newest addition to the MAX family.

Today's order is a conversion from a previous order of 737 MAX 8 aircraft.

"Due to the long-term success we've had operating 737 NG we had placed a sizable order of 737 MAX aircraft for our future, and the 737 MAX 10 provides additional flexibility for certain segments of our network," commented Ahmad Zamany, Copa Airlines' Vice President of Technical Operations. 

Copa Airlines will use these airplanes to replace existing airplanes and support the carrier's plans for strategic growth.  Copa Airlines will be the first airline in the region to operate the 737 MAX on deep-South American and North American routes. The 737 MAX 10's operating economics and passenger comfort are ideally suited to Copa Airlines' route network.

"We are thrilled that Copa Airlines is one of the launch customers for the 737 MAX 10," said Van Rex Gallard, vice president, Latin America, Caribbean and Africa Sales, Boeing Commercial Airplanes. "The 737 MAX 10 will be the most profitable single-aisle airplane, offering the lowest seat costs ever and will help Copa Airlines grow their business and win market share in the competitive single-aisle market."

Copa Airlines allows passengers to make fast and convenient connections to 75 destinations in 31 countries in North, Central and South America and the Caribbean through its Hub of the Americas in Panama City, the most internationally connected airline hub in the region.  For the last four consecutive years, FlightStats has recognized Copa Airlines as "Best Airline in Latin America" for its on-time performance and service quality, and, for the last two consecutive years, Copa Airlines was recognized as "The World's Second Most On-Time Airline," by OAG.

The entire 737 MAX family has been designed to offer customers exceptional performance, flexibility and efficiency, with lower per-seat costs and an extended range that will open up new destinations in the single-aisle market. The MAX 8 and 9 will be followed in 2019 by the introduction of a smaller, long range MAX 7 and a 200-seat MAX 8. The MAX 10 will be introduced in the 2020 time frame.

Like Boeing's other 737 MAX models, the MAX 10 incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets, Boeing Sky Interior, large flight deck displays, and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market.

The 737 MAX is the fastest-selling airplane in Boeing history. 

Copa Holdings is a leading Latin American provider of passenger and cargo services.  The Company, through its operating subsidiaries, provides service to 75 destinations in 31 countries in North, Central and South America and the Caribbean with one of the youngest and most modern fleets in the industry, consisting of 101 aircraft: 80 Boeing 737NG aircraft and 21 EMBRAER-190s. For more information visit www.copa.com.

CPA-G

CONTACT:  Raúl Pascual – Panamá
Director – Investor Relations
(507) 304-2774

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SOURCE Copa Holdings, S.A.