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This is a list of airlines which have an air operator's certificate issued by the Civil Aviation AuthorityofPanama.
| Airline | Image | IATA | ICAO | Callsign | Hub airport(s) | Founded | Notes |
|---|---|---|---|---|---|---|---|
| Aero - Mapiex Aero | Albrook "Marcos A. Gelabert" International Airport Enrique Malek International Airport |
1981 | Business/private charter | ||||
| Air Panama | 
|
PST | AIR PANAMA | Albrook "Marcos A. Gelabert" International Airport | 1980 | ||
| Arrendamientos Aéreos | AAD | Albrook "Marcos A. Gelabert" International Airport | 1999 | Business/private charter | |||
| Cargo Three | C3 | CTW | THIRD CARGO | Tocumen International Airport Miami International Airport |
2020 | Cargo | |
| Copa Airlines | 
|
CM | CMP | COPA | Tocumen International Airport | 1944 | Flag carrier |
| DHL Aero Expreso | 
|
D5 | DAE | YELLOW | Tocumen International Airport | 1996 | Cargo Airline |
| Uniworld Air Cargo | U7 | UCG | UNIWORLD | Tocumen International Airport | 2014 | ||
| Wingo Panama | WWP | WINGO PANAMA | Tocumen International Airport | 2021 | Owned by Copa Airlines[1] |