Copa Airlines will execute a capital investment exceeding $500 million in 2026 as part of a major fleet expansion. The Panamanian carrier plans to add more than 33 new aircraft between 2025 and 2027, according to an exclusive interview with its CEO. Pedro Heilbron revealed the details during the International Economic Forum for Latin America and the Caribbean 2026 in Panama City.
The investment supports a projected capacity growth of over 12 percent next year. This follows an 8 percent increase in 2025 achieved through the addition of 12 new planes. The airline expects to receive eight new aircraft this year and another 13 in 2027, a pace that outpaces regional industry averages.
Long Term Vision Drives Major Aircraft Orders
All new aircraft are being acquired directly from manufacturer Boeing. Heilbron framed the massive expenditure within a decade-long planning horizon essential for Panama’s aviation hub status. The executive emphasized that the company’s strategy looks far beyond the current business cycle.
“Our business and Panama do not end in 2028 or 2029; we have to plan for 10 years,” Heilbron stated. [Translated from Spanish]
He explained that sustained airline growth aims to keep Panama as Latin America’s primary air connectivity center. The investment extends beyond just purchasing jets. Significant resources are also allocated to technology, spare parts, and operational improvements. These moves target greater efficiency and service reliability amid strong regional tourism and air traffic demand.
Economic Impact and Infrastructure Demands
The expansion’s impact resonates throughout the Panamanian economy. Heilbron directly linked fleet investment to broader economic benefits in tourism, commerce, and services. He argued the spending visibly translates into local business activity and quality job creation across the country.
“What we invest in the fleet is seen on the streets, in hotels, restaurants, and in the generation of quality jobs,” Heilbron said. [Translated from Spanish]
This growth requires supporting infrastructure investments to keep pace. Heilbron cautioned that airport infrastructure projects, particularly at the Tocumen International Airport hub, must proceed on schedule. Timely execution is critical to avoid operational bottlenecks that could constrain the expanding fleet’s potential. The forum where he spoke was organized by the CAF – Development Bank of Latin America.
During his panel remarks, Heilbron positioned private enterprise as the engine for regional growth. He stated it requires a clear rules-based environment with legal stability to function effectively. Governments should act as facilitators creating conditions for investment, he suggested, while the private sector generates employment and innovation. This dynamic is seen as key for reducing poverty and sustaining economic growth across Latin America.
World Cup Creates Immediate Flight Demand
In the short term, Copa Airlines is managing temporary frequency increases to Canada for the 2026 FIFA World Cup. Regular flights to Toronto sold out in days, creating urgent demand. Unlike the open skies agreement with the United States, Canada maintains restrictive bilateral aviation rules.
Heilbron indicated the airline awaits a positive response from Canadian authorities. The request seeks approval for at least 60 additional flights. These would transport Panamanian fans to Toronto for their national soccer team’s two scheduled matches. Panama’s Civil Aviation Authority has formally requested the temporary frequencies from its Canadian counterparts.
This comprehensive investment and growth plan reinforces Copa’s role as a key economic engine for Panama. The airline continues to be a pivotal actor for regional air connectivity and tourism development. The strategy underscores a confident bet on long-term demand growth in Latin American aviation, as discussed by leaders like Yolanda Sandoval. With CEO Pedro Heilbron at the helm, the airline is positioning its hub for the next decade of travel.