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Fitch Affirms LAN Airlines' Investment Grade Credit Rating and Maintains Positive Outlook

Posted on: Monday, 10 April 2006, 18:00 CDT

LAN Airlines S.A. ("LAN" or "the Company") (NYSE:LFL) announced today that Fitch Ratings affirmed the Company's BBB- rating. LAN is currently one of the few airlines in the world rated as investment grade. Fitch also maintained the ratings' outlook at "positive".

Fitch's decision is based on LAN's strong business position in the passenger and cargo segments, unique business model, low-cost structure, fleet flexibility, and solid financial profile.

Alejandro de la Fuente, the Company's Chief Financial Officer stated, "Fitch's decision reflects the competitive advantages LAN has built over the years, which have enabled us to effectively overcome various challenges. It also confirms our strong financial position, facilitating access to international financial markets."

About LAN

LAN Airlines ("LAN") is one of the leading airlines groups in Latin America. The LAN Alliance includes LAN Airlines, LanPeru and LanEcuador. Through its own operations and code-share arrangements, the LAN Alliance serves 15 destinations in Chile, eleven destinations in Peru, two in Ecuador, 27 destinations in Latin America, 25 in North America, ten destinations in Europe and four in the South Pacific. Currently, the LAN Alliance operates 56 passenger aircraft and seven dedicated freighters.

LAN is a member of oneworld (TM), the world's leading quality alliance. It has bilateral commercial agreements with oneworld partners American Airlines, British Airways, Iberia and Qantas and also with Alaska Airlines, AeroMexico, Mexicana, TAM and Lufthansa Cargo. For more information visit www.lan.com or www.oneworldalliance.com.

Source: Business Wire

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