Copa Airlines

Copa Airlines was founded in 1947 as Compañía Panameña de Aviación. Pan American World Airways was one of the airline's early investors. Copa began by flying Douglas DC-3s to a handful of cities inside Panama. International service started in the 1960s. Over time the airline gradually gave up domestic flying and focused on connecting the Americas through Panama City, its home base.

The turning point came in 1998, when Continental Airlines bought a 49 percent stake. That deal brought modern management, the OnePass loyalty program, which rewards regular flyers, and a fleet plan built on the Boeing 737. Copa branded its Tocumen airport base the 'Hub of the Americas'. Copa Holdings listed on the New York Stock Exchange in 2005 and bought Colombia's AeroRepública, later renamed Wingo, its low-cost arm.

Copa joined Star Alliance, a group of cooperating airlines, in 2012, following partner United after the Continental merger. Panama sits at the narrowest point of the Americas. Copa's single-aisle 737s reach nearly every major city from Buenos Aires to Los Angeles nonstop, an edge no rival can copy. Cirium ranks Copa the most punctual airline in Latin America, and often worldwide. It stays profitable while many rivals go bankrupt.

Copa flies about 110 aircraft, and every one is a Boeing 737. That makes it one of the purest single-type operations among major carriers. The 737-800 is the core, joined by a rapidly growing group of 737 MAX 8s and MAX 9s.

The MAX 9s carry Copa's Dreams business class, with lie-flat seats, on longer trips such as Buenos Aires and Los Angeles. Copa has many more MAX 8s on order and has also ordered the larger MAX 10. Low-cost arm Wingo flies 737-800s from Colombia, so the group keeps one aircraft type throughout.