Panama’s Copa Airlines to Buy 22 Planes from Boeing

(laht.com) -  WASHINGTON - Panama-based Copa Airlines signed a contract here Tuesday to buy 22 Boeing 737-800 aircraft for $1.7 billion.

Executives from the two firms inked the deal in a ceremony at the U.S. Department of Commerce in Washington.

“As we continue to grow our economy in the U.S., sales like these will help us reach President Obama’s National Export Initiative goal of doubling exports by 2015 and creating several million new jobs,” Commerce Secretary Gary Locke said.

The contract includes an option for Copa to acquire 10 additional planes, which would bring the value of the transaction to nearly $2.4 billion.

Also present for the signing were Panamanian Vice President Juan Carlos Varela and Washington state Congressmen Dave Reichert and Jim McDermott, who represent districts with Boeing manufacturing facilities.

Boeing will deliver the 22 planes to Copa Airlines between 2015 and 2018.

Varela stressed the importance of business ties between Panama and the United States and said he hoped U.S. lawmakers would ratify a pending bilateral trade accord. EFE

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Original Source; laht.com

Date Retrieved: December 1, 2010.