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 the Company signed a contract for the purchase of 30 modern Airbus A320 family aircraft to be delivered between 2011 and 2016.
The new aircraft will operate flights within Latin America as well as domestic routes in Argentina, Peru, Ecuador and Chile and will be used for the renewal and growth of the Company’s short haul fleet. The order is valued at approximately US$1,972 million according to list prices. In addition to this purchase, LAN’s strategic fleet renewal plan involves the sale of five Airbus A318 aircraft in 2011.
The incorporation of the new Airbus A320s 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 for a substantial reduction in emissions, while also decreasing noise levels.
Mr. Ignacio Cueto, LAN Airlines’ Chief Operating Officer, commented: “This investment ensures the Company’s future growth and reaffirms LAN’s commitment to the development of commercial aviation in Latin America, as well as to the economic growth and social development of countries in the region. These aircraft are operated by the world’s best airlines and feature the latest technology, creating a substantial change in terms of service, quality and comfort, and allowing LAN to offer the best travel experience to our passengers.”