Fitch Improves Outlook to Positive on Chile´s LAN Airlines

LAN Airlines S.A. announced today that Fitch Ratings affirmed the Company´s investment grade rating. LAN is currently rated BBB-, making it one of the few airlines in the world to be rated investment grade. After its annual review, Fitch also improved the ratings´ outlook from "stable" to "positive".

Fitch´s decision was based on LAN´s strong business position in the passenger and cargo segments, its low-cost structure, solid financial profile and liquidity. The change in outlook is based on LAN´s strong financial performance over the past 18 months.

Alejandro de la Fuente, the Company´s Chief Financial Officer stated, "Fitch´s decision reflects LAN´s strong strategic profile, healthy financial position, and positive results.

The improvement in the outlook to positive is extremely significant, particularly while high fuel prices remain at record levels. This decision recognizes LAN´s good performance and we expect that it will lead to improved access to the international capital markets."