Copa Airlines announced Friday that it has signed a joint venture agreement with revenue share with United Airlines and Avianca Holdings, which will bring benefits to customers, communities and the passenger market that travel between the United States and 19 countries in Central and South America.
This joint business agreement (JBA) must be approved by the corresponding regulators, said on Friday the Panamanian company, which reaffirmed "that the three airlines will continue to be independent companies."
"The joint business agreement proposed by the three airlines will benefit customers in Latin America and their communities by stimulating economic and tourism development, improving the travel experience and offering more options to fly to and from the United States," said Copa in a public statement.
The airline noted that "Copa, United and Avianca will request regulatory approval of the agreement and immunity in competition matters from the United States Department of Transportation and other regulatory entities."
"The JBA currently includes cooperation between Central and South America and the United States, excluding Brazil, but even so, the recent approval of the open skies agreement between the United States and Brazil opens the possibility for companies to explore the feasibility of including it in the agreement," added the corporate information.
Copa noted that once approved, "the JBA will allow a deeper strategic trade cooperation that applies exclusively to the itineraries between Latin America and the United States established in the agreement."
Copa Airlines and Copa Airlines Colombia, subsidiaries of Copa Holdings, have one of the youngest and most modern fleets in the industry, and a punctuality close to 90 percent.