Copa Airlines, a subsidiary of Copa Holdings, SA and member of the global airline network Star Alliance, shared its 2024 growth and investment plans in order to maintain leadership in the air connectivity region of Panama, which offers the Hub of las Américas ® located at the Tocumen International Airport, as well as increasing its contribution to the economy, tourism and job creation in the country.
“The international connectivity offered by Copa Airlines, greater than what is offered from other hubs in the region, is a competitive advantage for Panama that highlights the impact and strategic relevance of the Las Américas® Hub in the country's economy. This unique connectivity is also an attraction for airlines from other regions of the world that complement their flights in our country. A better connected country results in opportunities for everyone, that is why we invest in new aircraft to expand routes and frequencies that generate more jobs, more economic development and more growth in tourism,” commented Pedro Heilbron, executive president of Copa Airlines.
Strengthening Panama's connectivity
In June 2024, through the Copa Airlines route network, Panama will connect with 85 destinations in 32 countries on the American continent, with an average of more than 370 daily flights. In the first half of the year, the Airline will add three new destinations: Tulum, in Mexico, Florianópolis in Brazil and the Raleigh-Durham region in North Carolina, United States. This represents an opportunity to make the attractions of Panama known to more people on the continent, as well as an incentive for the economic and tourist development of the country.
With the new routes and increased flight frequency in current destinations, Copa Airlines estimates that 2024 will close with more than 17.5 million passengers transported, which represents a 21% increase compared to 2019, exceeding the number prior to the pandemic. .
The increase in routes and flight frequencies is possible thanks to the annual investment of 1.7 billion dollars (at list price) to expand the fleet of Boeing 737-MAX model aircraft. By the end of 2023, Copa Airlines has 96 aircraft and it is expected that by the end of 2024 the fleet will reach 107 and exceed 120 aircraft by 2025. The Airline estimates that for each aircraft that joins its fleet, 70 positions will be generated. of additional work.
Hub of the Americas ® and its impact on tourism attraction
“Panama Stopover” will continue to be an important initiative of Copa Airlines to continue encouraging passengers traveling through the Tocumen International Airport to visit Panama. In 2023 this program brought more than 120 thousand visitors, 17.9% more compared to 2022. The Airline also reported on its new promotional campaign for 2024, “Es Muy Panamá” - “It's so Panama”, which will promote the tourist wonders of the country, mainly in key markets in the United States, to continue generating more interest in travelers to visit Panama.
Additionally, through the “Panamá Irresistible” fares, in 2023 a 14% increase in visitors to the country on Copa Airlines flights was recorded. This initiative offers promotional rates while contributing to the promotion and advertising of the country through the Airline's social media platforms, copa.com, and other company advertising spaces such as the in-flight magazine Panorama.
In 2023, according to information from the Tourism Promotion Fund (PROMTUR) and the Panama Tourism Authority (ATP), 1.6 million visitors were registered by air to Panama, 17.7% more compared to 2022. The Airline It is estimated that approximately 60% of these arrived via Copa Airlines flights.
Hub of the Americas ® and its impact on the Panamanian economy
Copa's growth allows for a greater direct contribution to the economy. In 2023, Copa Airlines' activity generated nearly 1.5 billion dollars between contributions to the treasury, payments to government institutions, payroll, local suppliers, among others. It is expected that, by the end of 2024, this contribution will exceed 1.6 trillion dollars.
Additionally, the Airline's growth will continue to positively benefit the production and progress of local companies by bringing more products on board for the enjoyment of the millions of passengers who travel on Copa throughout the continent. Currently, small Panamanian companies such as Café Rogusta, Comercializadora Nico, Finca El Viejito, Zakuska and Oro Moreno Panamá, are some of the small and medium-sized companies that provide products 100% made in Panama that are part of the service on board the Airline.
Hub of the Americas ® and its impact on job creation
In 2024, Copa Airlines plans to continue being one of the largest job generators in the private sector in Panama. For this year, the Airline estimates to generate more than 630 new jobs and at the end of the year have more than 7,700 employees in Panama, thus exceeding the size it had in 2019. By 2025 the number of employees in Panama of the Airline should exceed 8,200 people.
With the purpose of meeting the demand for qualified labor and generating professional growth opportunities for young Panamanians, Copa Airlines continues to promote the Latin American Academy of Higher Aviation (ALAS), a non-profit institution partly subsidized by Copa. Airlines, dedicated to training young Panamanians to be commercial pilots. Since its founding to date, it has graduated more than 233 commercial pilots, who today form part of the Airline's pilot staff. It currently has 84 active students and plans to graduate 61 new pilots by the end of 2024.
To generate opportunities for aviation mechanics, Copa continues to promote the Academy of Aeronautical Technicians (ATA), which aims to train highly trained personnel in maintenance and inspection of aeronautical systems, under local and international quality standards. Since its founding, ATA has graduated 134 aviation mechanics and currently 86 students are pursuing their studies. This non-profit program recruits young people from Panamanian technical and vocational schools, offering training at no cost to the student and with a monthly scholarship of US$350 while they finish their degree.
For its part, the Copa Airlines Cabin Crew Academy estimates that 360 cabin crew members will graduate in 2024. Through this, young Panamanians receive a 100% free certification that meets the international standards required by the industry. This allows them to acquire tools for on-board care, emergency management, cabin preparation, languages, as well as get started in the world of aviation and build their career and professional advancement within the Airline.