Logan International Airport will offer nonstop service to Latin America when Copa Airlines starts flying between Boston and Panama City in July. The 5½-hour flight on a 124-seat Boeing 737 will leave Boston just before 10 a.m. each day, with round-trip tickets averaging $528.
Currently, Boston is the largest US market without a nonstop flight to Central or South America, but there is plenty of demand. In 2011, more than 400,000 passengers flew between Boston and the nearly 60 cities in Latin America that Copa serves out of its hub in Panama City.

Comments
Great news! Unless you're comparing it to NY, Chicago, or LA, though, Boston is not "relatively small market". With 7.5 million people living within a 75 minute drive of Logan, Boston is actually quite a large and wealthy market.
Adios, Miami!