LAN SIGNS DEFINITIVE PURCHASE AGREEMENT FOR AIRES

The definitive purchase agreement signed by LAN Airlines to acquire 98.942% of the shares of Colombian airline Aires finalises the $12 million acquisition. LAN Airlines is assuming Aires’ net liabilities of approximately $100 million, including $18 million of bank debt. The Chilean airline hopes the purchase allow it to compete in the lucrative Colombian passenger market, which will allow Lan and its affiliates to strengthening their regional presence and provide a seamless service throughout Latin America. “Aires has made an important contribution by allowing many people in Colombia access to air travel as a means of transportation. LAN will now