Copa Airlines (CM), is an airline based in Panama City, Panama, and serves as Panama's flag carrier. Its main base of operations is Tocumen International Airport.
Copa airlines was established as Compañía Panameña de Aviación in 1944 by a group of prominent Panamanian investors with assistance from Pan American and started operations on 15 August 1947. It became wholly Panamanian owned and closed operations in 1941. 1990s was the expansion time of the company, when service was started to many important Latin American cities.
On 19 May 1999 Continental increased its stake to 51 percent. Since then, Copa has adopted a livery and a corporate logo similar to Continental"s. In connection with the initial public offering in December 2005, Continental reduced their investment to approximately 27.3 percent and through a follow-on offering in 2006, further reduced their investment to approximately 10%.
2000s has been the time for network expansion, with inauguration of services to Los Angeles, Cancún, Orlando, São Paulo, Quito (Ecuador), New York City, Manaus, Brazil, Maracaibo, Venezuela, Montevideo, Uruguay, Rio de Janeiro, Brazil, San Pedro Sula, Honduras, and Santiago de los Caballeros, Dominican Republic, Córdoba, Argentina, Guadalajara, Mexico, Punta Cana, Dominican Republic and Washington, D.C., United States, Port of Spain, Trinidad and Tobago, Belo Horizonte, Brazil, Valencia, Venezuela, Oranjestad, Aruba and Santa Cruz de la Sierra, Bolivia, etc.
On 1 June 2005, Copa Airlines purchased 90 percent of the Colombian domestic air carrier AeroRepública, having earlier announced plans to codeshare with them. Copa rebranded AeroRepública to Copa Airlines Colombia and increased destinations and modernized the fleet. In May 2008, Continental Airlines sold its remaining 4.38 million shares of Copa Airlines for $35.75 a share, for net proceeds of approximately $149.8 million.
Copa Airlines currently flies to 63 destinations in 29 countries in North America, Central America, South America and the Caribbean.
Copa Airlines operates a total of 73 aircrafts, including: 20 Boeing 737-700, 27 Boeing 737-800 and 26 Embraer E-190.