SANTIAGO, Chile, May 06, 2010 (BUSINESS WIRE) -- 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 Aeronautica 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 Cia. S.C. group.

About LAN

LAN Airlines is one of the leading passenger and cargo airlines in Latin America. The Company and its affiliates serve over 65 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 63 additional international destinations through its various alliances. 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 domestic market and has begun operations in the domestic market of Ecuador.

Currently, LAN Airlines and its affiliates operate one of the most modern fleets in the world, with 86 passenger aircraft, and its cargo subsidiary, LAN CARGO and its respective cargo affiliates, have a fleet of 11 dedicated freighters. The Company recently completed its short haul fleet renovation process by acquiring new aircraft from the Airbus A320 family, enabling LAN to improve its efficiency and to reduce significantly its CO2 emissions. The fleet renovation is part of the Company's 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(TM), the global alliance that encompasses the best airlines in the world. For more information please visit www.lan.com or www.oneworldalliance.com.

SOURCE: LAN Airlines S.A.