Copa CEO Update

Copa Holdings CEO Pedro Heilbron discusses the group’s slower rate of expansion the last two years due to the slowdown in the region’s economic growth rate and the impact of the crisis in Venezuela. Copa is remaining relatively conservative with expansion but continues to grow its network with services to Mendoza and Denver to be launched in 4Q2018. The group’s new LCC unit Wingo, which Mr Helbron said is off to a better than expected start, also continues to expand. In 2018 Copa plans to take its first 737 MAX, which will be used on some of the group’s longer routes and drive a reduction in unit costs as well as improved efficiencies. Copa’s first 15 737 MAX deliveries will be the 737 MAX 9 but over time plans take a mix of MAX 8s, MAX 9s and MAX 10s.