Copa Airlines, a subsidiary of Copa Holdings, SA and a member of the Star Alliance global airline network, shared the growth plans it will be promoting in 2023. The initiatives planned for this year focus on strengthening the Hub de Las Américas®, the main hub of connections in the region, through the increase in its network of destinations and flight frequencies, growth and modernization of the aircraft fleet, and the generation of more jobs in Panama.
"There are already more than 75 years of work and investment in Panama that have consolidated us as the leading airline in the region, making the Hub of the Americas® the preferred connection in Latin America, shortening distances and contributing to tourism, economic and of the country and of the entire continent . Today, to be sustainable in a more competitive and complex environment that has been impacted in recent years, we must accelerate our growth, create new jobs and increase our direct contribution to the country's economy," said Pedro Heilbron, CEO of Copa Airlines.
As part of the announcements of the plans for 2023, Copa Airlines confirmed the addition in recent years of 15 new B-737MAX model aircraft, an investment of 2.1 billion dollars, to the order pending receipt. These aircraft are added to the original order signed in 2015 and pending deliveries are expected in the next 5 years. By 2023, the Airline estimates to receive six additional Boeing 737 MAX9, and reach an active fleet of 99 aircraft (32 B737 MAX9 model, 58 B737 800NG model and 9 B-737-700NG model).
On the other hand, Copa Airlines plans to renew the training fleet of the Latin American Aviation Academy (ALAS) with the acquisition of eight new Diamond DA40/42 model aircraft, equipped with modern technology to facilitate the learning process, meeting the highest security standards. In addition, these aircraft are friendly to the environment, consuming up to 50% less fuel than those that will be replaced.
Copa Airlines also announced the acquisition of a fifth B737MAX flight simulator for the training of its pilots. With the incorporation of the new simulator, the training capacity will increase to sustain the growing needs of the Airline.
Strengthen and increase the connectivity of Panama
In the first half of 2023, Copa Airlines will incorporate three new destinations, Baltimore and Austin, in the United States, and Manta, in Ecuador, to operate a total of 80 destinations in 33 countries on the American continent. The international connectivity that the Airline operates, greater than other hubs in the region, is a competitive advantage of Panama that highlights the impact and strategic relevance of the Hub of the Americas® in the country's economy. Additionally, the unique connectivity of Panama is an attraction for airlines from other regions of the world that complement their flights to the Central American country.
With the incorporation of new routes and an increase in flight frequencies to various destinations, Copa Airlines estimates an 11% growth in the number of passengers compared to 2022. By the end of 2023, it projects to transport 16.1 million passengers, reaching a operation of 328 daily flights, exceeding levels prior to the pandemic.
Increase tourism in Panama and contribute to the economic growth and social development of the country
Copa Airlines will continue to implement successful initiatives to boost tourism and the Panamanian economy, such as the "Panama Stopover" program, which encourages transit passengers to stay a few days in Panama. Since 2019 this program has brought more than 260 thousand visitors and it is estimated that in 2023 more than 115 thousand tourists will enter taking advantage of the Panama Stopover.
Additionally, Copa continues to promote promotional fares to Panama through its "Irresistible Panama" initiative, through which a 27% increase in visitors aboard the Airline's flights was recorded, as well as contributing to the promotion and publicity of the country using its social media platforms, copa.com, and other advertising spaces owned by the company, such as the on-board magazine Panorama.
Likewise, the growth of the Airline will continue to positively benefit the production and progress of local companies by bringing more 100% Panamanian products on board for the enjoyment of the millions of passengers who travel in Copa throughout the continent. Currently, small Panamanian companies such as Café Rogusta, Comercializadora Nico and F&F Foods are the main suppliers of products that are part of the service on board the Airline.
Generation of employment opportunities for Panamanian talent
In 2023, Copa Airlines projects to continue being one of the largest generators of employment in the private sector in Panama. For this year, the Airline estimates to generate 520 new jobs in Panama, to reach a total of more than 7,600 collaborators, 5% above what it had in 2019.
In order to meet the demand for qualified labor, Copa Airlines continues to promote the Latin American Superior Aviation Academy (ALAS), a non-profit institution dedicated to training young Panamanians to be commercial pilots. Currently, it has 80 active students and estimates to graduate in 2023 about 50 new pilots who will join the Airline's team of pilots.
In relation to the demand 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 foundation, 132 aviation mechanics have graduated and currently 110 students are studying. This non-profit program recruits young people from Panamanian technical and vocational schools, offering training at no cost to the student and with a US$350 monthly scholarship while they finish their studies.