March 26, 2010 (FinancialWire) — Copa Holdings S.A. (NYSE: CPA) said that Corporacion de Inversiones Aereas, S.A. or CIASA, sold 1.84 million of its class A non-voting shares of Copa Holdings in an SEC registered equity offering.

CIASA sold the shares of class A common stock at a price of $56.00 per share, resulting in proceeds of $99,948,800, net of underwriting discounts and commissions.

The underwriter, Morgan Stanley & Co. (NYSE: MS), acting as sole book-running manager and underwriter for the offering, exercised its over-allotment option.

Copa Holdings did not receive any of the proceeds from the offering.

Panama-based Copa Holdings, through its Copa Airlines and Aero Republica operating subsidiaries, is a leading Latin American provider of passenger and cargo services. Copa Airlines currently offers approximately 152 daily scheduled flights to 45 destinations in 24 countries in North, Central and South America and the Caribbean. In addition, Copa Airlines provides passengers with access to flights to more than 120 other international destinations through code share agreements with Continental Airlines and other airlines. Aero Republica provides service to 12 cities in Colombia as well as international connectivity with Copa Airlines' Hub of the Americas through flights from Barranquilla, Bogota, Bucaramanga, Cali, Cartagena, Medellin and Pereira. Additionally, Aero Republica has international flights from Colombia to Caracas and Quito. CPA-G

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