I use Copa frequently to the US from Ecuador. It is an excellent carrier and the hub in Panama works very well. The airline has little choice but to follow Continental as their frequent flyer program is One Pass and they operate a number of code shares. I would not be surprised to see Sky Team try to work with Avianca of Colombia. Avianca partners already include at least both KLM Flying Blue and Delta Sky Miles for earning among Skyteam airlines.
They are also buying a majority stake in VIP and Aerogal from Ecuador. That could be part of replacing Copa in Skyteam.