EX-4.24





 EXHIBIT 4.24 

CONFIDENTIAL TREATMENT 
 CERTAIN
IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL 

Supplemental Agreement No. 21 

to 
 Purchase Agreement
No. 2191 
 between 
 The
Boeing Company 
 and 
 COPA
Holdings, S.A., Inc. Relating to 
 Boeing Model 737 Aircraft 

THIS SUPPLEMENTAL AGREEMENT No. 21 (“Supplemental Agreement 21”) is entered into as of May 28, 2010 by and between THE BOEING
COMPANY, a Delaware corporation with its principal office in Seattle, Washington, (Boeing) and COPA HOLDINGS, S.A., INC. (Customer); 

WHEREAS, the parties hereto entered into Purchase Agreement No. 2191 dated November 25, 1998, (as amended and supplemented and together
with all exhibits, schedules and letter agreements pertaining thereto, the “Purchase Agreement”) relating to Boeing Model 737-7V3 and 737-8V3 aircraft (collectively, the “Aircraft” and each an “Aircraft”); 

WHEREAS, Customer has exercised one (1) [***] Option Aircraft and one (1) [***] Option Aircraft; and 

[***] 
 NOW THEREFORE, in
consideration of the mutual covenants herein contained, the parties agree as follows: 
 1. The one (1) [***] and one (1) [***] Aircraft that Customer has
exercised will deliver one (1) [***] with serial number [***] and one (1) in [***]with serial number [***]. 
 2. Capitalized terms not otherwise defined
herein shall have the meanings ascribed to them in the Purchase Agreement. 
 3. The “Table of Contents” of the Purchase Agreement is
revised to reflect the changes made by this Supplemental Agreement 21 and to delete Restricted Letter Agreement “6-1162-LAJ-982R8. . . .Special Matters . . . .SA-20” from the Table of Contents since it was not included in SA-20. A copy of
the revised Table of Contents is attached hereto. 
 4. The following changes are made to the Aircraft Delivery, Description, Price and Advance Payments
Tables to incorporate the [***]. 
 4.1. Tables 1-6, 1-9 and 1-10B are revised to change the features price and SPE price as discussed in
paragraph 4 above. Tables 1-6, 1-9 and 1-10B as revised in accordance with this paragraph 4 are attached hereto. 

  

					
	PA No. 2191	 	 Page 1
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 

4.2. Table 1-8 is revised to change the features price and SPE price as discussed in paragraph 4 above for the August 2011 Aircraft only. Table
1-8, as revised, is attached hereto. 
 4.3. Table 1-10A is revised to create two Tables. Table 1-10A(1) lists only the [***] Aircraft which
continue to have the features from Exhibit A-3. Table 1-10A(2) lists the remainder of the Aircraft from Table 1-10A and includes the revised features pricing and SPE estimate as discussed in paragraph 4 above. Table 1-10A(1) and Table 1-10A(2) are
attached hereto. 
 4.4. Table 1-12, attached hereto, provides the pricing information for the exercised [***] Aircraft. 

5. Exhibit A-4 entitled “Aircraft Configuration for Customer’s 737-8V3 Aircraft with Deliveries [***]”, attached hereto, provides the features
for Aircraft with deliveries [***] including the [***]. These changes will be included in Customer’s Detail Specification number [***]. 
 6.
Supplemental Agreement BFE1, Buyer Furnished Equipment Variables, paragraph 2 is revised as stated below to add the preliminary on-dock dates for the [***] Aircraft. Preliminary On dock Dates for the [***] Aircraft are found in Supplemental
Agreement 18. 
  

					
	 	  	[***]    
Aircraft    	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
		
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
		
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 
	 [***]
	  	 	[***]	 

 7. [***] 
 8. Letter Agreement
6-RLL-3958R2, Table 11 entitled “Option Aircraft Delivery, Description, Price and Advance Payments”, is revised to [***]. The revised Table 11 dated May 2010 is attached hereto 

9. [***] 
 10. [***] 

  

					
	PA No. 2191	 	 Page 2
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 

11. At signing of this Supplemental Agreement
                 is due. 
 The Purchase
Agreement will be deemed to be supplemented and revised to the extent herein provided as of the date hereof and as so supplemented and revised will continue in full force and effect. 

Boeing and Customer have each caused this Supplemental Agreement to be duly executed as of the day and year first written above. 

 

									
					
		 	THE BOEING COMPANY	 		 		 	COPA HOLDINGS, S.A.
					
		 	



	 		 		 	
					
	By	 	  
	 		 	By:	 	  

					
		 	Its:         Attorney-In-Fact	 		 		 	Its: Chief Executive Officer


  

					
	PA No. 2191	 	 Page 3
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 

TABLE OF CONTENTS 
  

							
	ARTICLES	  	 SA
NUMBER
	 
		
	 1. Quantity, Model and Description
	  	 	SA 3	 
		
	 2. Delivery Schedule
	  			
		
	 3. Price
	  			
		
	 4. Payment
	  	 	SA 3	 
		
	 5. Miscellaneous
	  			
		
	 TABLE
	  			
			
	1-1	 	Aircraft Information Table for Model 737-7V3 Aircraft	  	 	SA 4	 
	1-2	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 5	 
	1-3	 	Aircraft Information Table for Model 737-7V3 Aircraft	  	 	SA 7	 
	1-4	 	Aircraft Information Table for Model 737-7V3 Aircraft	  	 	SA 13	 
	1-5	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 13	 
	1-6	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-7	 	Aircraft Information Table for Model 737-8V3 Aircraft Option Aircraft	  	 	SA 13	 
	1-8	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-9	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-10	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-10A(1)	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-10A(2)	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-10B	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
	1-11	 	Aircraft Information Table for Model 737-8V3 Option Aircraft	  	 	SA 21	 
	1-12	 	Aircraft Information Table for Model 737-8V3 Aircraft	  	 	SA 21	 
		
	 EXHIBIT
	  			
			
	A-1	 	Aircraft Configuration for Model 737-7V3 Aircraft	  	 	SA 3	 
	A-2	 	Aircraft Configuration for Model 737-8V3 Aircraft	  	 	SA 3	 
	A-3	 	Aircraft Configuration for Model 737-8V3 Aircraft	  	 	SA 18	 
	A-4	 	Aircraft Configuration for Model 737-8V3 Aircraft	  	 	SA 21	 
		 	[***]	  			
	B.	 	Aircraft Delivery Requirements and Responsibilities	  	 	SA 3	 


  

					
	PA No. 2191	 	 i
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 

SUPPLEMENTAL EXHIBITS 
  

							
	 AE1.
	  	Escalation Adjustment Airframe and Optional Features	  	 	SA 10	 
			
	 BFE1.
	  	BFE Variables	  	 	SA 21	 
			
	 CS1.
	  	Customer Support Variables	  	 	SA 3	 
			
	 EE1.
	  	Engine Escalation/Engine Warranty and Patent Indemnity	  			
			
	 SLP1.
	  	Service Life Policy Components	  			

 LETTER AGREEMENTS 

 

							
	 2191-01
	  	Demonstration Flight Waiver	  			
	 2191-02
	  	Escalation Sharing	  			
	 2191-03
	  	Seller Purchased Equipment	  			
	 2191-03R1
	  	Seller Purchased Equipment	  	 	SA-20	 

 RESTRICTED LETTER AGREEMENTS 
  

							
	 6-1162-DAN-0123
	  	[***]	  			
	 6-1162-DAN-0124
	  	Special Matters	  			
	 6-1162-DAN-0155
	  	Airframe Escalation Revision	  			
	 6-1162-DAN-0156
	  	Year 2000 Ready Software, Hardware and Firmware	  			
	 6-1162-DAN-0157
	  	Miscellaneous Matters	  			
	 6-1162-MJB-0017
	  	Special Matters	  			
	 6-1162-MJB-0030
	  	Special Matters	  			
	 6-1162-LAJ-874R
	  	Special Matters	  	 	SA 5	 
	 6-1162-LAJ-874R1
	  	Special Matters	  	 	SA 6	 
	 6-1162-LAJ-874R2
	  	Special Matters	  	 	SA 7	 
	 6-1162-LAJ-982
	  	Special Matters	  	 	SA 8	 
	 6-1162-LAJ-982R3
	  	Special Matters	  	 	SA 11	 
	 6-1162-RLL-3852
	  	[***]	  	 	SA 9	 
	 6-1162-LAJ-982R4
	  	Special Matters	  	 	SA 13	 
	 6-1162-RLL-3958
	  	737-8V3 Option Aircraft	  	 	SA 13	 
	 6-1162-RLL-3958R1
	  	737-8V3 Option Aircraft	  	 	SA 18	 
	 6-1162-RLL-3958R1
	  	737-8V3 Option Aircraft	  	 	SA 18	 
	 6-1162-RLL-3958R2
	  	737-8V3 Option Aircraft	  	 	SA 21	 
	 6-1162-LAJ-982R5
	  	Special Matters	  	 	SA 16	 
	 6-1162-LAJ-982R6
	  	Special Matters	  	 	SA 17	 
	 6-1162-LAJ-982R7
	  	Special Matters	  	 	SA 18	 
	 6-1162-LAJ-982R8
	  	Special Matters	  	 	SA 20	 
	 6-1162-RLL-4092
	  	Advance Payment Matters for Aircraft Listed in Table 1-9	  	 	SA 17	 
	 6-1162-KSW-6417
	  	Boeing Offer Related to New Interior	  	 	SA 18	 
	 6-1162-KSW-6419
	  	[***]	  	 	SA 20	 
	 6-1162-KSW-6471
	  	[***]	  			
		  	[***]	  	 	SA 21	 
	 LA -1000842
	  	Installation of Cabin Systems Equipment	  	 	SA 21	 


  

					
	PA No. 2191	 	 ii
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 
  


					
	 SUPPLEMENTAL AGREEMENTS
	  	DATED AS OF:	 
	 Supplemental Agreement No. 1
	  	 	June 29, 2001	 
	 Supplemental Agreement No. 2
	  	 	December 21, 2001	 
	 Supplemental Agreement No. 3
	  	 	June 14, 2002	 
	 Supplemental Agreement No. 4
	  	 	December 20, 1002	 
	 Supplemental Agreement No. 5
	  	 	October 31, 2003	 
	 Supplemental Agreement No. 6
	  	 	September 9, 2004	 
	 Supplemental Agreement No. 7
	  	 	December 9, 2004	 
	 Supplemental Agreement No. 8
	  	 	April 15, 2005	 
	 Supplemental Agreement No. 9
	  	 	March 16, 2006	 
	 Supplemental Agreement No. 10
	  	 	May 8, 2006	 
	 Supplemental Agreement No. 11
	  	 	August 30, 2006	 
	 Supplemental Agreement No. 12
	  	 	February 26, 2007	 
	 Supplemental Agreement No. 13
	  	 	April 23, 2007	 
	 Supplemental Agreement No. 14
	  	 	August 31, 2007	 
	 Supplemental Agreement No. 15
	  	 	February 21, 2008	 
	 Supplemental Agreement No. 16
	  	 	June 30, 2008	 
	 Supplemental Agreement No. 17
	  	 	December 15, 2008	 
	 Supplemental Agreement No. 18
	  	 	July 15, 2009	 
	 Supplemental Agreement No. 19
	  	 	August 31, 2009	 
	 Supplemental Agreement No. 20
	  	 	November 19, 2009	 


  

					
	PA No. 2191	 	 iii
	 	SA No. 21
		 		 	May 2010














 CONFIDENTIAL 

Table 1-6 
 Aircraft
Delivery, Description, Price and Advance Payments 
 (BSI Interior) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  	[***]	  				  			
		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  	 	[***]	 	  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
					
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[***]	 	  		  				  			

  

																																			
	 Delivery
Date
	  	Number of
Aircraft	 	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	  
	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 Total:
	  	 	4	 	  				  				  				  		  				  				  				  			


  

					
	 COP-54041-1F.TXT

PA No. 2191 SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-8 
 Aircraft
Delivery, Description, Price and Advance Payments 
  

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification: see PA 2191	  				  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price*: see note below
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  	[***]	  				  			
		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  	 	[***]	 	  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[***]	 	  		  				  			

  

																																			
	 Delivery
Date
	  	Number
of
Aircraft	 	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	 	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 Total:
	  	 	2	 	  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			


  

					
	 COP-48720/54023-1F.TXT
 PA No. 2191
SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-9 
 Aircraft
Delivery, Description, Price and Advance Payments 
 (BSI Interior) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  	 	[***]	 
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  	[***]	  				  			
		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  	 	[***]	 	  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
					
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[***]	 	  		  				  			

  

																																	
	 Delivery
Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	 	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]		  	 	[***]	 
	 [***]
	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]		  	 	[***]	 
	 Total: 
	  	2	  				  				  				  		  				  				  				  			


  

					
	 COP-54021-1F.TXT
 PA No. 2191
SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-10A(1) 
 Aircraft
Delivery, Description, Price and Advance Payments 
  

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  		  				  			
		  	  
	  
	 	  	
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  				  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
					
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[***]	 	  		  				  			

  

																																			
	 Delivery
Date
	  	Number of
Aircraft	 	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	Escalation	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 Total:
	  	 	2	 	  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			


  

					
	 COP PA 2191 SA-20
 51647, 52612
	 	 Boeing Proprietary
	 	 11/25/09

Page 1















 CONFIDENTIAL 

Table 1- 10A(2) 

Aircraft Delivery, Description, Price and Advance Payments (BSI/Winglets) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	Airframe Price Base Year/Escalation Formula:	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	Engine Price Base Year/Escalation Formula:	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  		  				  			
		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  				  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
					
	 Refundable Deposit/Aircraft at Proposal Accept:
	  	 	[***]	 	  		  				  			

  

																																			
	 Delivery
Date
	  	Number of
Aircraft	 	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	Fixed
Escalation	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 Total:
	  	 	10     	 	  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			


  

					
	 COP- 54019-1F.TXT
 PA No. 2191
SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-10B 
 Aircraft
Delivery, Description, Price and Advance Payments 
 (BSI Interior) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  				  			
	 Engine Price (Per Aircraft):
	  	$	0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
	 Option Deposit Paid
	  	 	[***]	 	  		  				  			

  

																																			
	 Delivery
Date
	  	Number of
Aircraft	 	  	Escalation
Factor
(Airframe)	 	  	Serial
Number	 	  	Escalation*	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):	 
	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 	  	[***]
[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	[***]	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 	  	 	[***]	 
	 Total:
	  	 	3     	 	  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			
	 [***]
	  				  				  				  				  		  				  				  				  			


  

					
	 COP- 54022-1F.TXT
 PA No. 2191
SA-2
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-12 
 Aircraft
Delivery, Description, Price and Advance Payments 
 (BSI Interior) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  				  			
	 Engine Price (Per Aircraft):
	  	$	 0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	 0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
	 Option Deposit
	  	 	[***]	 	  		  				  			

  

																			
	 Delivery Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	  	Serial
Numbers	  	 	  	
Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):
	  	[***]
[***]	  	[***]
[***]	  	[***]
[***]	  	[***]
[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  		  		  		  		  		  		  		  	


  

					
	 COP-54019-1F. TXT
 PA No. 2191
SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 

Table 1-11 
 Aircraft
Delivery, Description, Price and Advance Payments 
 (BSI Interior) 

 

															
	 Airframe Model/MTOW: 737-800
	  	 	[***]	 	  	Detail Specification:	  	 	[***]	 	  			
	 Engine Model/Thrust: CFM56-7B26
	  	 	[***]	 	  	 Airframe Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Airframe Price:
	  	 	[***]	 	  	 Engine Price Base Year/Escalation

Formula:
	  	 	[***]	 	  	 	[***]	 
	 Optional Features:
	  	 	[***]	 	  		  				  			
		  	  
	  
	 	  		  				  			
	 Sub-Total of Airframe and Features:
	  	 	[***]	 	  	Airframe Escalation Data:	  				  			
	 Engine Price (Per Aircraft):
	  	$	 0	 	  	Base Year Index (ECI):	  	 	[***]	 	  			
	 Aircraft Basic Price (Excluding BFE/SPE):
	  	 	[***]	 	  	Base Year Index (CPI):	  	 	[***]	 	  			
		  	  
	  
	 	  		  				  			
	 Buyer Furnished Equipment (BFE) Estimate:
	  	$	 0	 	  		  				  			
	 Seller Purchased Equipment (SPE) Estimate:
	  	 	[***]	 	  		  				  			
	 Non-Refundable Deposit/Aircraft at Def Agreemt:
	  	 	[***]	 	  		  				  			

  

																			
	 Delivery Date
	  	Number of
Aircraft	  	Escalation
Factor
(Airframe)	  	 	  	 	  	 Escalation
Estimate
Adv Payment
Base
Price Per A/P
	  	Advance Payment Per Aircraft (Amts. Due/Mos. Prior to
Delivery):
	  	[***]
[***]	  	[***]
[***]	  	[***]
[***]	  	[***]
[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]
	 [***]
	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]	  	[***]


  

					
	 COP-54039-10.TXT
 PA No. 2191
SA-21
	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 
  


					
	11-COP38W0003-06_0511010172	  	BOEING PROPRIETARY	  	4/11/2011

 AIRCRAFT CONFIGURATION FOR AIRCRAFT 

WITH DELIEVERIES [***] 
 Between

 THE BOEING COMPANY 
 And 

COPA HOLDINGS, S.A., INC. 

Exhibit A-4 to Purchase Agreement Number 2191 

  

					
	PA No. 2191 SA-21	 	 A-4
	 	
		 	BOEING PROPRIETARY	 	














 CONFIDENTIAL 

Exhibit A-4 to 
 Purchase Agreement No. 2191 

Page 2 
 AIRCRAFT CONFIGUARTION 

WITH DELIEVERIES BEGINNING IN 2011 

Dated May 2010 
 relating to 

BOEING MODEL 737-8V3 AIRCRAFT 

Exhibit A-4 provides the Options for Customer’s Aircraft [***]. These Aircraft will have the [***]. The Detail Specification will be
[***]. Such Detail Specification will incorporate the Options listed below, including the [***]. The aircraft Basic Price reflects and includes all effects of such Options, except such Aircraft Basic Price does not include the price effects of any
Buyer Furnished Equipment or Seller Purchased Equipment. Exhibit A-4 is [***] used in the pricing Tables. 

  

					
	P.A. No. 2191 SA-21	 	 A-4
	 	
		 	BOEING PROPRIETARY	 	














 CONFIDENTIAL 
  


					
	11-COP38W0003-06_0511010172	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
	PA No. 2190	 	 Boeing Proprietary
	 	 May 2010

Page 1















 CONFIDENTIAL 
  


					
	 11-COP38W0003-06_0511010172
	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

					
	 CR
	  	Title	 	[***]
Price

Per A/C
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]


  

					
		 		 	May 2010
	PA No. 2190	 	BOEING PROPRIETARY	 	Page 2














 CONFIDENTIAL 
  


					
	 11-COP38W0003-06_0511010172
	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

					
	 CR
	  	Title	 	[***]
Price
Per A/C
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]


  

					
		 		 	May 2010
	PA No. 2190	 	BOEING PROPRIETARY	 	Page 3














 CONFIDENTIAL 
  


					
	 11-COP38W0003-06_0511010172
	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

					
	 CR
	  	Title	 	[***]
Price

Per A/C
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]


  

					
		 		 	May 2010
	PA No. 2190	 	BOEING PROPRIETARY	 	Page 4














 CONFIDENTIAL 
  


					
	11-COP38W0003-060511010172	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

 May 2010 

  

					
	PA No. 2190	 	BOEING PROPRIETARY	 	Page 5














 CONFIDENTIAL 
  


					
	11-COP38W0003-06_0511010172	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	 PA No. 2190
	 	 BOEING PROPRIETARY
	 	 May 2010

Page 6















 CONFIDENTIAL 
  


					
	11-COP38W0003-06_0511010172	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-06
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	 PA No. 2190
	 	 BOEING PROPRIETARY
	 	 May 2010

Page 7















 CONFIDENTIAL 
  


					
	COP38W0003-07_051110101813.XLS	  	BOEING PROPRIETARY	  	

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	PA No. 2191 SA-21	  	BOEING PROPRIETARY	  	 May 2010

Page 1















 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	 PA 2190 SA-21
	  	 Boeing Proprietary
	  	 May 2010

Page 2















 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	PA 2190 SA-21	  	Boeing Proprietary	  	 May 2010

Page 3















 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	 PA 2190 SA-21
	  	 Boeing Proprietary
	  	 May 2010

Page 4















 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
		 		 	May 2010
	PA 2190 SA-21	 	Boeing Proprietary	 	Page 5














 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
		 		 	May 2010
	PA 2190 SA-21	 	Boeing Proprietary	 	Page 6














 CONFIDENTIAL 
  


					
	12-COP38W0003-07_05110101813XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-07
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	  	 	[***]	 	  	 	[***]	 


  

					
		 		 	May 2010
	PA 2190 SA-21	 	Boeing Proprietary	 	Page 7














 CONFIDENTIAL 
  

					
	COP38W0003-08_051110095538.XLS	  	BOEING PROPRIETARY	  	

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
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	 [***]
  
	  	 	[***]	 	  	 	[***]	 


  

					
	PA No. 2191	  	Page 1	  	SA No. 7














 CONFIDENTIAL 
  


					
	13-COP38W0003-08_05110095538.3XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 

  

  

					
	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  


					
	13-COP38W0003-08_05110095538.3XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
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	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
	PA No. 2191 SA-21	 	 BOEING PROPRIETARY
	 	 SS10-0226

	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  


					
	13-COP38W0003-08_05110095538.3XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  


					
	13-COP38W0003-08_05110095538.3XLS	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	  	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 
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	 [***]
	  	 	[***]	 	  	 	[***]	 
	 [***]
	  	 	[***]	 	  	 	[***]	 


  

					
	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  


					
	 13-COP38W0003-08_05110095538.3XLS
	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	Customer Log:	 	COP38W0003-08
	Customer:	 	COP — COPA Airlines
	Model:	 	737-800
	Base Date:	 	[***]
	Qty of A/C:	 	[***]

  

									
	 CR
	  	Title	 	 	[***]
Price
Per A/C	 
	 [***]
	  	 	[***]	 	 	 	[***]	 
	 [***]
	  	 	[***]	 	 	 	[***]	 
	 [***]
	  	 	[***]	 	 	 	[***]	 
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	 [***]
	  	 	[	***] 	 	 	[	***] 

  

  

					
	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  


					
	 13-COP38W0003-08_05110095538.3XLS
	  	BOEING PROPRIETARY	  	4/11/2011

 Exhibit A To 

Boeing Purchase Agreement 
  

			
	 Customer Log:
 Customer:

Model:
 Base Date:

Qty of A/C:
	  	 COP38W0003-08
 COP — COPA Airlines

737-800
 [***]

[***]


  

					
	 CR
	  	Title	 	[***]
Price
Per A/C
	 [***]
	  	[***]	 	[***]
	 [***]
	  	[***]	 	[***]
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	PA No. 2191 SA-21	 	 BOEING PROPRIETARY
	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 

Attachment to Letter Agreement 
 No. 6-1162-KSW-6471 

CFM56-7B26 Engines 
 Page 1 

MODEL 737-8V3 [***] 

FOR COPA (COPA HOLDINGS, S.A. INC.) 
  

					
	 SECTION
	  	CONTENTS	 
	 [***]
	  			
	 [***]
	  			
	 [***]
	  			
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	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 

Attachment to Letter Agreement 
 No. 6-1162-KSW-6471 

CFM56-7B26 Engines 
 Page 2 

 

													
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	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 

Attachment to Letter Agreement 
 No. 6-1162-KSW-6471 

CFM-56-7B26 Engines 
 Page 3 

 

					
	 [***]
	  			
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	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 

Attachment to Letter Agreement 
 No. 6-1162-KSW-6471 

CFM56-7B26 Engines 
 Page 4 

 

					
	 [***]
	  			
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	PA No. 2191 SA-21	 	BOEING PROPRIETARY	 	SS10-0226
	AERO-B-BBA4-M10-0377	 		 	














 CONFIDENTIAL 
  





 
 The Boeing Company 

P.O. Box 3707 
 Seattle, WA
98124-2207 
 LA-1000842 
 COPA HOLDINGS, S.A. 

Apartado 1572 
 Avenida Justo Arosemena y Calle 390 

Panama 1, Paname 
  

	Subject:	 Installation of Cabin Systems Equipment 



 

	Reference:	 Purchase Agreement No. 2191 (Purchase Agreement) between The Boeing Company (Boeing) and COPA HOLDINGS,
S.A (Customer) relating to Model 737-8V3 Aircraft [***] 


 This letter agreement (Letter Agreement) amends and supplements
the Purchase Agreement. All terms used but not defined in this Letter Agreement will have the same meaning as in the Purchase Agreement. 
  

																	
		  	 	    [***]    	 	  				  				  			
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	 [***]
	  				  				  				  	 	    [***]    	 













 CONFIDENTIAL 
  





 
  

													
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	PA No. 2191	  	1	  	SA No. 7

  
  












 



 
 CONFIDENTIAL 
 COPA
HOLDINGS, S.A.,INC. 
 LA-1 000842 
  

									
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	P.A. No. 2190 SA-21	 	 2
	 	 May 2010















 



 
 CONFIDENTIAL 
 COPA
HOLDINGS, S.A.,INC. 
 LA-1 000842 
 Very truly yours, 

THE BOEING COMPANY 
  

			
	By	 	




		 	  
 Its
    Attorney-In-Fact


 ACCEPTED AND AGREED TO this 

Date: May         , 2010 

COPA (COPA HOLDINGS, S.A., INC. 
  

			
		
	By	 	 
		 	Its                                     
                                         
          


  

					
	PA 2190 SA-21	 	 3
	 	 May 2010















 CONFIDENTIAL 

COPA HOLDINGS, S.A.,INC. 
 LA-1 000842 

 

									
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	P.A. No. 2190 SA-20	 	 4
	 	 May 2010















 CONFIDENTIAL 

COPA HOLDINGS, S.A.,INC. 
 LA-1 000842 

 

													
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	P.A. No. 2190 SA-21	 	 5
	 	 May 2010