I noticed that the liveries of CO, and Copa are very similar, and as for the globe on the tail, just painting over some of the lines would change the CO tail to the Copa tail. Did Copa get some 737's from CO? Is there an agreement between the two?
Continental owns 49% and Motta International about 20%, the rest are smaller investors, The CEO is Panamanian and all the airplanes are registered in panama, it is not a subsidiary, it is a completely separate airline, but with a lot of codesharing. They are the fastest growing airline in latin america and have 95.6% on time record, the highest in America (the continent)
If it ain't Boeing (or Embraer ;-)) I ain't Going!