Copa Airlines Buys Aircraft for $6.6 billion

The contract is for 61 Boeing 737s MAX 8 and 9, though details on deadlines for delivery are not known.

Wednesday, April 22, 2015

From a statement issued by Copa Airlines:

Juan Carlos Varela, President of the Republic of Panama and Barack Obama, President of the United States of America, witnessed a historic agreement in which Copa Airlines (NYSE: CPA) and Boeing (NYSE: BA) announced the order of 61 737s MAX 8 and 9. The total value of the deal is $6.6 billion dollars, according to the published price list, making this the largest transaction between a Panamanian and a US company.

The ceremony took place in Panama City, during the CEO SUMMIT under the Seventh Summit of the Americas which brought together 33 presidents and heads of state.

More on this topic

More Bets on the Regional Aviation Market

May 2015

Avianca announced the purchase of 100 aircraft manufactured by Airbus, which will be used to gradually replace aircraft currently operating from Bogota, San Salvador and Lima.

The airline confirmed the purchase of 100 A320neo aircraft type, with the goal of replacing those that operate on the routes to Colombia, El Salvador and Peru.

Panama to Purchase Planes for $ 6 million

September 2010

The National Assembly approved a credit for $ 6,455,256 in order to purchase two aircraft.

The acquisition will be conducted by the National Air Service, which will use one for coastal patrol and the other as an ambulance for emergencies.

Prensa.com reported that Deputy Minister of Security, Alejandro Garuz, announced that the models to be purchased will be "Cessna Caravan".

Copa Airlines To Buy $1 Billion in Boeing Planes

July 2009

The airline ordered an additional 13 Boeing 737 airplanes, a $1 billion investment, doubling its original request.

This order increases to 27 the number of planes Copa Airlines has ordered from Boeing. Additionally, they have agreed a purchase option for 8 more planes.

"Boeing 737s have been an important element in Copa's success, proving us with efficient operations and costs, which allows us to offer our passengers world class services and an extensive network of routes in Latin America", said Pedro Heilbron, CEO of Copa Airlines. "This order restates the confidence we have in our business model and the growth potential for air travel in Latin América".

Copa orders new Boeing Next-Generation aircraft

July 2008

The regional airline Copa has ordered two Boeing 737-800 aircraft, with delivery promised for 2010 and 2011.

With this purchase, Copa Airlines has in effect expanded its order for the Next-Generation aircraft from seven to nine, with an option to order still more.
The company already has 27 aircraft of this design out of its total fleet of 40.

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