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COPA airlines of Panama reports growth

Panama-based airline Copa Airines has announced that it will nvest $250 million in new aircraft in 2010. Pedro Heilbron, the company's chief executive, said in a lecture in New York. "The economic crisis that hit the world didn't affect us, in the first four months we had a two-digit growth (of revenue passenger mile) and we ended the last four months with two-digit growth, really we only had a decline in May-July with the H1N1 flu crisis."

Copa ordered a record 23 Boeing (BA) 737 jets in 2009 (15 firms and eight options),  and the airline also acquired an option on 11 Embraer-190 (EMBR3.BR) jets.

The company plans to get eight new jets delivered in 2010.

The airline plans to increase frequencies to Sao Paulo, Guatemala, Los Angeles and Punta Cana, among others.  Copa Airlines serves Central America, the Caribbean and some destinations in the U.S. and South America from its hub in Panama City. The company also controls Colombian domestic airline AeroRepublica.
 
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