LAN Airlines announces agreement with colombian airline Aeroasis

Bogotá, May 06, 2010.

LAN Airlines S.A. and its subsidiaries ("LAN" or "the Company") (NYSE: LFL / IPSA: LAN), one of the leading airlines in Latin America, today announced an agreement with Colombian airline Aeroasis S.A. ("Aeroasis") to provide it with technical support and service consultancy in the process of obtaining an operating permit from the Colombian civil aviation authority (Unidad Administrativa Especial de Aeronáutica Civil), within the established deadlines. This process includes the hiring of personnel and elaboration of technical materials, as well as the selection and acquisition of equipment, all according to the applicable legal and regulatory frameworks.

LAN´s firm interest is that once Aeroasis obtains its operating permit, the Colombian airline may become part of the LAN group of airline operators, through association and integration agreements, which shall, as applicable, be submitted for review to the corresponding authorities.

Aeroasis was incorporated in 2006 in the Republic of Colombia for the purpose of providing air transport for passengers, cargo and mail. Aeroasis is part of the CORSO y Cía. S.C. group.