Tuesday, July 20, 2010
LAN Airlines S.A. and its subsidiaries, ("LAN" or "the Company") (NYSE: LFL / IPSA: LAN), one of the leading airlines in Latin America, announced today that the Company signed an agreement for the purchase of 50 modern Airbus A320 family aircraft to be delivered between 2012 and 2016.
The new aircraft will operate regional and domestic flights within Latin America. This order includes Airbus A319s and A320s as well as, for the first time, the Airbus A321 which has a capacity for approximately 210 passengers. The order is valued at approximately US$4,150 million according to list prices. Additionally, LAN’s strategic fleet renewal plan now involves the sale of its 15 Airbus A318s between 2011 and 2013.
The Company also announced it has ordered CFM56-5B engines to power its Airbus A320 family fleet deliveries starting in 2011.
The incorporation of the new Airbus A320 family airplanes reflects LAN’s strong commitment to the environment as these aircraft incorporate the industry’s latest technology and are highly efficient in fuel consumption, allowing for a substantial reduction in emissions, while also decreasing noise levels.
Mr. Ignacio Cueto, LAN’s Chief Operating Officer, commented: "We confirm our commitment to the development of commercial aviation in Latin America, incorporating the best technology and offering our clients one of the world’s most modern fleets. We continue investing in order to contribute to the economic growth and social development of countries in the region."