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 during the Paris Air Show in Le Bourget, France, the Company signed an agreement to purchase 20 modern, eco-efficient A320neo Airbus A320 family aircraft, to be delivered between 2017 and 2018. This order is part of LAN´s expansion strategy and fleet renewal program, and is valued at approximately US$1,700 million according to list prices. The A320neo is an improved version of the existing Airbus A320 Family, which incorporates new, more-efficient engines and large "Sharklet" wingtip devices, together delivering approximately 15 percent in fuel savings, among other benefits. Mr. Ignacio Cueto, LAN Airlines’ Chief Operating Officer, commented: “This order solidifies LAN’s continuous commitment to provide customers with the most modern technology in aviation thanks to the A320neo’s significant improvements to fuel efficiency and range capabilities. Adding the A320neo to LAN’s fleet is an important step in ensuring LAN’s leadership in the region.” The incorporation of the Airbus A320neo aircraft 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 a substantial reduction in emissions, and decreased noise levels. About LAN LAN Airlines is one of the leading passenger and cargo airlines in Latin America. The company and its affiliates serve over 76 destinations around the world through an extensive network that offers full connectivity within Latin America, while also linking the region with North America, Europe and the South Pacific, as well as 93 additional international destinations through its various code share agreements. LAN Airlines and its affiliates have a leading position in their respective domestic markets of Chile and Peru as well as an important presence in the Argentinean and Ecuadorian domestic markets. Furthermore, in November 2010, LAN acquired Colombian airline AIRES.
Currently, LAN Airlines and its affiliates operate 123 passenger aircraft while LAN Cargo and its respective affiliates have a fleet of 14 dedicated freighters. The Company has one of the youngest fleets in the world which has meant greater efficiency and a significant reduction in CO2 emissions, reflecting its strong commitment to the protection of the environment.LAN is one of the few Investment Grade airlines in the world (BBB). The company’s world class quality standards enabled its membership in oneworld™, an alliance of leading global airlines of which LAN has been a member for 10 years. For more information please visit www.lan.com or www.oneworldalliance.com