Copa Airlines began operations in 1947 with domestic flights to three cities within the Republic of Panama, with a fleet of 3 Douglas C-47.

In 2000 began flights to Cancun, Orlando, Sao Paulo, San Andres and Los Angeles. The Presidents Club in Tocumen International Airport in Panama City was inaugurated.

In 2003, Copa Airlines and Continental Airlines broaden their codeshare agreement from 27 to 127 flights throughout the United States and Central America.

In 2004, Copa signed a purchase agreement for Embraer 190 airplanes, with a firm order for 10 and an option for 20 additional.