Wingo, a subsidiary of Copa Holdings (NYSE: CPA), has announced the launch of two new direct international routes from Medellín to Guatemala City, Guatemala, and Montego Bay, Jamaica. With this expansion, the carrier becomes the only airline to operate these specific nonstop segments from José María Córdova International Airport in Rionegro, which serves the Antioquia region.

The new service increases Wingo’s international portfolio to 10 destinations from the city, complementing its existing network of five domestic routes. According to data provided by the airline, Medellín has become a primary operational base in Colombia. In 2025, approximately 35% of the carrier’s total passenger traffic, representing 1.2 million travelers, originated from or arrived in the city.

“Medellín is a strategic city for Wingo, and these two new routes reflect our confidence in the potential of the city and the response of travelers.” — Jorge Jiménez, Commercial and Planning Vice President of Wingo.

The Alcaldía de Medellín, through the Secretaría de Turismo y Entretenimiento and the Bureau de Medellín y Antioquia, coordinated with airport concessionaire Airplan to facilitate the new frequencies. The Medellín to Guatemala City route is scheduled to begin operations on June 25, 2026, with three weekly frequencies on Tuesdays, Thursdays, and Saturdays. The airline expects to offer 30,000 seats annually on this route, with one-way fares starting at $108 USD, including taxes and fees.

The connection to Montego Bay is slated for a June 23, 2026, start date, also operating three times per week on Tuesdays, Thursdays, and Saturdays. Introductory fares for the Jamaican destination are positioned at $159 USD per trayect. This move follows a 2025 pilot program where Jamaica was marketed as a high-interest destination for Colombian travelers.

Jorge Jiménez, Commercial and Planning Vice President at Wingo, stated that these routes reflect confidence in the potential of the city and the response of travelers to direct, low-cost international options. Ana María López Acosta, Secretary of Tourism and Entertainment, noted that the collaboration between the public and private sectors continues to project the city as an attractive destination for tourism and investment.

The expansion comes as the Aeropuerto Internacional José María Córdova continues to increase its capacity as a logistical platform for the country. Javier Benítez, Manager of the airport, indicated that the arrival of these routes reaffirms the facility’s potential to facilitate international business and connection for the region.

The new route will offer flights on Mondays, Wednesdays, and Fridays, providing a non-stop connection between Colombia’s capital and Guatemala City. This expansion facilitates access to a country known for its cultural, natural, and historical attractions.

The Instituto Guatemalteco de Turismo (INGUAT), the government entity responsible for tourism, reported a significant increase in Colombian visitors. According to INGUAT, 39,000 Colombians visited Guatemala during the first half of 2025, marking a 9% increase compared to the same period in the previous year. In 2024, the country welcomed more than 58,000 Colombian visitors.

Lake Atitlán. Photo credit: Wingo.

Harris Whitbeck, director general of INGUAT, noted the importance of the Colombian market. “Colombia is one of our key source markets in South America. This new air connection will make it easier for more travelers to discover the natural, cultural, and culinary richness that Guatemala offers.”

Jorge Jiménez, commercial and planning vice president for Wingo, a subsidiary of Copa Holdings (NYSE: CPA), stated that the new route is aimed at expanding travel opportunities for Colombians.

The new service arrives in time for Guatemala’s primary tourism seasons, including the Festival of Giant Kites in Sumpango and Santiago Sacatepéquez in November, as well as the dry season, which runs from November to April. The flight is expected to have a duration of approximately three hours and 30 minutes.

Parque Nacional. Photo credit: Wingo.

For the full year 2020, Copa Holdings reported a net loss of $598.6 million, or $14.08 per share. Excluding special items, the airline would have reported a net loss of $259.5 million, or $6.11 per share.

Operating & Financial Highlights

• Copa Holdings reported a net loss of $168.8 million USD for the quarter, or $3.97 USD per share. Excluding special items, the airline would have reported a net loss of $85.2 million, or $2.00 per share. Special items for the quarter include an $80.1 million unrealized mark-to-market loss related to the airline’s convertible notes, a $4.4 million asset impairment charge on the Boeing 737-700 fleet, and a $0.9 million gain on the Embraer assets held for sale.
• Copa Holdings reported an operating loss of $95.1 million for the quarter. Excluding special items, the airline would have reported an operating loss of $91.5 million.
• For the full year 2020, Copa Holdings reported a net loss of $598.6 million, or $14.08 per share. Excluding special items, the airline would have reported a net loss of $259.5 million, or $6.11 per share. Special items for the full year include a $191.2 million in total impairment charges related to the Boeing 737-700 fleet, a $98.7 million unrealized mark-to-market loss on to the airline’s convertible notes, and a $49.2 million expected loss on the Embraer assets held for sale.
• For the full year 2020, Copa Holdings reported an operating loss of $460.9 million. Excluding special items, the airline would have reported an operating loss of $220.6 million for 2020.
• Cash consumption, defined as cash disbursements less proceeds, excluding extraordinary financing activities and asset sales, averaged approximately $6 million per month during the quarter. Cash consumption for the quarter benefited from changes in working capital, as cash proceeds increased ahead of capacity growth, while cash outflows lagged given the timing of certain accounts payable.
• Copa Airlines ended the quarter with $1.3 billion of available liquidity, consisting of approximately $1.0 billion in cash, short-term and long-term investments, and committed and undrawn credit facilities of $305 million.
• Copa Airlines closed the quarter with total debt, including lease liabilities, of $1.4 billion.
• Copa Airlines’ flight operations, measured in terms of available seat miles (ASMs), represented 15% in October, 28% in November, and 39% in December, as compared to the same periods in 2019. For the quarter, the airline’s ASMs were approximately 27% of ASMs in the same period in 2019.
• During the quarter, the airline completed the delivery of 5 Embraer 190 aircraft that were previously sold to a third party. As of December 31, 2020, there were 8 Embraer 190 aircraft sold and pending to be delivered.

On the other hand, during the same month the subsidiary companies of Avianca Holdings S.A. (NYSE: AVH) (BVC: PFAVH) transported 2,556,843 passengers, a 3.6% increase compared to May 2018. Capacity, measured in ASKs Available Seat Kilometers), increased 4.8%, while passenger traffic, measured in RPKs (Revenue Passenger Kilometers), increased 5.3%. The load factor for the month was 82.0%, a increase of 37 bps compared to the same period of 2018.

Domestic markets in Colombia, Peru and Ecuador

In May, the subsidiary airlines of Avianca Holdings transported within each of these markets a total of 1,429,260 travelers, up 2.5% when compared to the same period of 2018. Capacity (ASKs) decreased 1.3% while passenger traffic (RPKs) decreased 0.4%. The load factor for the month was 79.8%, a decrease of 75 bps when compared to the same month of 2018.

Copa, based in Panamá, does not fly domestic routes.

International markets

In May, the affiliated airlines of Avianca Holdings transported 1,127,583 passengers on international routes, up 5.0% when compared to the same period of 2018. Capacity (ASKs) increased 6.1%, while passenger traffic (RPKs) increased 6.4%. The load factor for the month was 82.5%, an increase of 25 bps when compared to May 2018.

Copa Airlines

Avianca Airlines

1 PAX : Passengers carried

2 ASKs: Available Seat Kilometers

3 RPKs: Revenue Passenger Kilometers

4 Load Factor:Represents utilized seating capacity

The London-based Worldpay has been supporting payments in the airline industry for more than 25 years, and Wingo is especially encouraged by the surrounding data analytics platform that the company offers. The carrier hopes that by better understanding the purchasing habits of passengers, it can improve its website, online booking system, and overall customer service.

Wingo, which is looking to expand in the near future, believes that this relationship will “support its rapid expansion plans” as it looks to “extend our network of routes into new markets.”

The airline’s ambition is “to deliver the best online experience for the passengers who use our website globally,” said Catalina Bretón, general manager of Wingo. “We wanted a payments partner that could support that ambition.”

Photo credit: Wingo

The aircraft, which are expected to be delivered in 2020, will go toward replacing existing planes Copa has been operating and support “plans for strategic growth,” stated the airline in a statement. Copa Airlines is encouraged by the single-aisle 737 Max 10s operating efficiency, lower per-seat cost, and extended range.

The 737 MAX 10, in line with Boeing’s other 737 MAX models, will be equipped with CFM International LEAP-1B engines, “advanced technology winglets,” and the “Boeing Sky Interior,” among other modern aircraft features.

“Due to the long-term success we’ve had operating 737 NG, we had placed a sizable order of 737 MAX aircraft for our future, and the 737 MAX 10 provides additional flexibility for certain segments of our network,” said Ahmad Zamany, Copa Airlines’ vice president of technical operations.

Photo: One model within the Boeing 737 Max line of aircraft that Copa Airlines will soon be adding to its fleet. (Credit: Boeing)

Catalina Bretón, chief executive of Wingo. (Credit: Wingo)

In all, the carrier, which is controlled by Panama-based Copa Holdings S.A. and operates out of Bogotá’s El Dorado International Airport, transported 26,455 passengers during some of Colombia’s busiest travel dates of the year. Over 11 days surrounding Holy Week, Wingo operated 226 flights to destinations in Colombia and vacation hotspots overseas.

The carrier’s most popular destinations during Semana Santa included Cartagena and San Andres in Colombia as well as Mexico City and Punta Cana in the Dominican Republic.

“The airline market in the country has improved in the last decade and this accounts for the growing number of Colombians who now consider air travel their first choice when traveling,” said Catalina Bretón, chief executive of Wingo.

She added that airport infrastructure investment in recent years has strengthened Colombian carriers’ ability to better serve travelers during holidays when many are hoping to maximize their limited time to visit family and enjoy their vacations. “Airlines prefer punctual aircraft in order to strengthen our operations and satisfy our travelers,” said Bretón.

Across all airlines, Colombia’s aviation regulator Aerocivil reported more than 2.2 million fliers passing through the nation’s airports during the Semana Santa high season. According to the agency, the industry as a whole improved its customer satisfaction record greatly over its 2016 performance. Aerocivil received an average of 18 complaints per day in 2017 compared to 45 per day during the Holy Week period last year.

Photo credit: Wingo

The airline says it has launched the route in response to customer demand and to help better connect the two nations. From 2013 to 2016, according to Wingo, more than 1.2 million Venezuelans entered Colombia as the economic, political, and security situation deteriorated in their home country.

“We want Venezuelans living in our country to feel closer to their homeland and also more Colombians to discover the Wingo side of Caracas,” said Catalina Bretón, general leader at Wingo. “Plus, Caracas is a very important business destination in the region.”

The flight will depart El Dorado International Airport in the Colombian capital at 4:29 am each Monday, Wednesday, Friday, and Saturday, arriving in Simón Bolívar International Airport in Caracas at 7:24 am. The return leg will depart from Venezuela at 8:31 am and land back in Bogotá at 9:30 am. (All times local.)

Daniel Pages, president of the Association of Venezuelans in Colombia (AsocVenCol), was pleased with the news. “We strive for strategic partnerships that benefit our fellow citizens,” he said, adding that “in addition to providing commercial service between Venezuela and Colombia, Wingo has identified the need to connect to sister nations.”

Photo credit: Wingo

In October, Wingo announced that it would begin operating in Colombia as another lower-cost airline in the country in addition to VivaColombia, Easy Fly, and Satena, the state-controlled carrier that specializes in flights to remote areas of the country. Combined, they will all put some price pressure on the dominant players Avianca, LATAM (formerly LAN Colombia), and Copa Airlines.

The ceremonial water bath was attended by several tourism and transportation officials in Panama, including: Gustavo Him, administrator of Panama’s Tourism Authority, Rosa Muńoz, director of the Panama Pacifico International Airport, Leo Ángel González, administrator of the Panama Pacific Agency, and Joseph Fidan, general manager of the nearby Tocumen International Airport.

¡Nuestro bautizo de agua en Panamá!✈💜👐 #WingoDespega pic.twitter.com/UvtPp7OFEt

— Wingo (@wingo) December 1, 2016

The Cartagena-to-Panama flight is one of 12 international routes, along with five domestic routes, for the Colombia-based Wingo, which is starting off operations with four Boeing 737-700s from its parent company Copa Airlines. Each has a fully economy class configuration with 142 seats.

Early on, the domestic coverage will consist of connecting nation’s biggest cities to the Colombian island San Andrés, which sits in the Caribbean off the coast of Nicaragua.

Wingo’s first flight, from Cartagena to Panama, had a welcoming party ready when it landed. (Credit: Panama Pacific Agency)

These following are the routes that are operating so far.

Domestic

• Bogotá to Cartagena
• Bogotá to San Andrés
• Cartagena to San Andrés
• Barranquilla to San Andrés
• Cali to San Andrés

International

• Bogotá to Panama City
• Bogotá to Mexico City
• Bogotá to Quito, Ecuador
• Bogotá to Caracas, Venezuela
• Bogotá to Havana, Cuba
• Bogotá to Cancún, Mexico
• Bogotá to Aruba
• Bogotá to Punta Cana, Dominican Republic
• Medellín to Panama City
• Cali to Panama City
• Panama City to San Jose, Costa Rica
• San Jose to Guatemala City

Main photo credit: Wingo

Offers are due by November 9, and the notion that a majority share may be on the table conflicts with a recent report in Colombian media. Local magazine Semana reported last week that the controlling stakeholders, brothers Germán and José Efromovich, were only looking for a partner and would in no case sell control.  They have reportedly been receiving pressure to improve financial results and cut debt from Elliott Management Corporation, the hedge fund management firm of billionaire Paul Singer that is involved in other ventures with the Efromovich brothers.

All three of the airlines — Delta, United Continental, and Copa — previously have been rumored to have interest in becoming the strategic partner that Avianca has been seeking for months.

In August, Bancolombia, the largest bank in Colombia, said that Avianca’s first-half financial results outperformed its expectations. Cost-cutting initiatives and a contraction in fuel consumption were among the positive factors, and the Medellín-based financial services giant projected that the strategic partnership would be coming “sooner than later.”

In a note to investors, the bank said that it believed completing a deal would “help to improve not only the long-term strategy but also to make an accelerated deleverage of the balance sheet, in our view one of the main risks the company is currently facing.”

While Avianca has spent the year amid a rough operating environment in South America and ongoing rumors swirling around a capital injection, it has seen an increase in passengers. So far in 2016, through September, the airline and its subsidiaries have carried 21.8 million passengers, up 3.6% year-to-date compared to 2015. It’s revenue passenger kilometers are up 7.0% this year.