Press Releases

LAN AIRLINES’ FOREIGN CURRENCY RATING AFFIRMED AT ‘BBB’ BY FITCH

Santiago, Chile, April 7, 2008

LAN Airlines S.A. ("LAN" or "the Company") announced today that Fitch Ratings has affirmed the Company’s foreign currency Issuer Default Rating at ‘BBB’, with a rating outlook of ’Stable’. This classification confirms LAN as one of the few investment grade airlines in the world.

A press release distributed by Fitch Ratings stated that this decision reflects LAN’s "strong business position, low cost structure, fleet flexibility and adequate financial profile". Additionally, FITCH states that "LAN’s competitive advantages are underpinned by the integration of passenger and cargo operations, which provides revenue diversification and reduces the break-even load factor."

According to Mr. Alejandro de la Fuente, LAN Airline’s Chief Financial Officer, “Fitch Ratings’ decision to affirm the Company’s rating reflects the competitive advantages that LAN has established over time, and confirms the Company’s solid financial situation, facilitating LAN’s access to the international financial markets.”

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