Panama authorities announced that resolution no. 441 has lost its validity and will not be renewed. This means that Panama has lifted the flight ban for Boeing 737 MAX aircraft.
But MAX aircraft will not fly immediately. There is resolution no. 118, which certifies flights with 737 MAX by meeting some operating requirements.
The country of manufacture of the 737 MAX airplanes authorized their operation. The operator complied with the requirements established by the country of manufacture for the aircraft's re-operation. MCAS software has been updated and certified by the aeronautical authority of the country of manufacture. All pilots of the airlines have completed training and training on Boeing 737 MAX aircraft.
The ban was lifted, but 737 MAX is still not flying in Panama
In other words, Panama lifted the ban on flying, but resolution 118 still keeps them on the ground. When the US authorities go green with 737 MAX, Copa Airlines (Panama company) will be able to immediately resume flights with 737 MAX.
Regarding foreign airlines, which wish to fly with Boeing 737 MAX to destinations in Panama, they have permission if they comply with article no. 3. The aeronautical authority of the country of origin of the airline also allows flights with 737 MAX.