Although Panama’s Copa Airlines has been around since 1947 when Pan American World Airways provided capital and technical assistance to help launch the carrier, for most of its history it was a small, niche player in the global airline marketplace. As recently as 1998, it operated just 13 aircraft. As recently as 2001, it generated just $300 million in annual revenue. But for the past decade, Copa has taken advantage of the strategic location that has long made Panama City a center of ...

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