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Panama’s Copa Airlines buys 22 Boeing 737s

Post by John Gillie / The News Tribune on Nov. 30, 2010 at 12:34 pm with No Comments »
November 30, 2010 12:34 pm

Panama’s Copa Airlines today consummated its largest airplane order in history with a commitment to buy 22 Boeing-built 737 aircraft.

The order is worth $1.7 billion at list prices, but quantity buyers such as Copa often receive discounts.

The aircraft, all 737-800s, a plane in the middle of the 737 model line when measured by capacity, will be built in Boeing’s Renton plant.

The order was previously listed on Boeing’s orders and deliveries website as coming from an unidentified buyer.

“We thank Copa Airlines for this significant order and are very proud to partner with one of the most successful airlines in the industry,” said Jim Albaugh, president and CEO of Boeing Commercial Airplanes. “Copa’s exceptional business model, ideal geographic position and modern and efficient fleet will continue to drive its leadership in the Latin American aviation market.”

“These 22 firm aircraft plus 10 options, which deliver between 2015 and 2018, are an integral part of our medium term growth plan,” said Pedro Heilbron, CEO of Copa Airlines. “This is the largest aircraft order in Copa’s history, which is a reflection not only of our confidence in the future of Latin America and Panama, but also of our successful business model, which has made our Hub of the America’s the best connecting point for intra-Latin America travel.”

Operating with a hub in Panama City, Copa provides service to 46 destinations in 24 countries.

In the past two years, Copa has purchased 37 Next-Generation 737-800s new from Boeing and entered into leasing agreements for an additional one.

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