Welcome Letter

2014 was a year of renovation during which we took important steps towards achieving our mission of becoming one of the world's three most important airline groups in the world.

Message from the Chairman of the Board

Dear shareholders,

For LATAM Airlines Group, 2014 was a year of renovation during which we took important steps towards achieving our mission of becoming one of the world's three most important airline groups in the world. Despite macroeconomic and other external factors that had an adverse effect on our business, LATAM Airlines Group made progress on numerous fronts of its renovation plan, including fleet renewal, the continuous improvement of our product and the renovation of the airport infrastructure we use for our operations.

Our achievements during the year reinforce our belief that the decision which LAN and TAM took over two years ago to combine their businesses was the right one. Getting where we are today has certainly been difficult but, if we were to go back in time, we would do it all again. We continue to make progress towards the objectives we established for the association. Although aware that the challenge we have set ourselves will require further efforts in the years to come, we have confidence in the sound foundations we have laid down.

In 2014, the company moved forward with its fleet renewal plan to reduce the number of models it operates, gradually taking less efficient models out of service and allocating aircraft according to which are most appropriate for each of its markets. The fleet renewal plan forms part of our long-term strategy which we believe is essential in order to achieve a cost-efficient operation and enhance the competitiveness of our airlines in the long term. In line with this, ten modern latest-technology Boeing 787 Dreamliners were incorporated into LAN's fleet while, in TAM's long-haul fleet, Airbus A330s were replaced with Boeing 767s, which will allow it to make important savings on fuel as well as offering a better product to passengers.

As regards the renewal and continuous improvement of our product, TAM also began to remodel the cabins of its Boeing 777s, eliminating first class and reconfiguring business class in order to significantly improve passengers' travel experience. TAM also joined oneworld which became the global alliance of LATAM Airlines Group. For our customers, this will mean more comfortable travel, increased connectivity and greater opportunities to redeem their points/miles. Another important milestone was the opening of our new VIP lounges in Sao Paulo and Santiago in October 2014 and March 2015, respectively. This took the number of new lounges we have opened in the past 18 months to four, including Bogotá and Buenos Aires.

The significant investments that Brazil made in infrastructure and, particularly, airports prior to the Football World Cup have had a positive long-term impact for that country's airline industry. Thanks to these investments, we were able to move our operations to Terminal 3 at the Guarulhos Airport and Terminal 2 at the Brasilia Airport. These very important milestones will enable us to continue developing connectivity through our hubs, reducing connection times and offering our passengers greater comfort.

Finally, I would like to point out that LAN and TAM were once again recognized by their passengers, taking first and second place, respectively, in the Best South American Airlines prize in the Skytrax World Airline Awards. This prize is regarded as a global barometer of customer satisfaction since it is awarded exclusively on the basis of passengers' opinions.

Having achieved important and tangible progress on numerous fronts during such a challenging year allows us to look to the future with great confidence since we have systematically overcome obstacles and taken important steps towards our companies' integration, fulfilling our goal of not only becoming one of the world's leading airlines but also a company to which our employees are happy to belong.

Mauricio Amaro
Chairman of the Board
LATAM Airlines Group

We are aware that, in our region, the coming years will be complex and challenging, due to slower growth of its economies and important depreciations of its currencies.

Message from the CEO of LATAM Airlines Group

Dear shareholders,

The consolidation of LATAM Airlines Group as Latin America's best airline group has been our paramount focus in recent years and, to this end, we have worked consistently and with discipline. Along the way, we have achieved great progress and, although results have been slower in coming than we anticipated, we also know that, looking to the long term, the association between LAN and TAM is the most strategic decision we have made. We also firmly believe that LATAM Airlines Group is the group of airlines best prepared to address adverse scenarios because we have a position in the region that is unique in the world.

All this is the fruit of many years of work and shows us that we are on the right road to achieve our objective of positioning LATAM Airlines Group as one of the world's three most important airline groups by 2018. In order to achieve this goal, we have designed a strategic plan based on critical factors for success that seek to take advantage of our strengths and our great potential.

Our strategy focuses primarily on constantly enhancing our customers' experience during all stages of their journey, seeking always to differentiate ourselves as regards service. In this context, we have approved investments for over US$100 million to boost the use of technology in all our passenger contact points. Our aim is for passengers to be able to manage their travel in a simple, transparent and totally independent manner. Similarly, we are working to migrate to a new single brand as well as to develop a unified culture, product and value proposition, all of which will enable LATAM Airlines Group to be fully perceived as a single airline company.

We believe that, in order to achieve these objectives, the most important element that sets us apart is our people. We have the best human team, a team of people who are passionate about their work and focused on the construction of a common culture, which is the basis of all we do and to which safety, the customer, collaboration as a team and excellence in every sphere are central. This is the way in which we have harnessed our organization to the goal of offering our customers distinctive value, consistently surpassing our competitors.

As an organization, we have always worked to be the best option for any one traveling within, to or from South America, constantly striving to expand our connectivity and strengthen our network. There is no other airline group in the world that is present in seven domestic markets in a single continent as is the case of LATAM Airlines Group which, in addition, has regional, international and cargo operations. In order to take advantage of this potential, we have set ourselves the goal of increasing connectivity within South America and strengthening our hubs in the region, particularly Sao Paulo's Guarulhos Airport - the principal gate of entry into South America - as well as Brasilia and Lima.

We have, in addition, redefined our cost structure in a bid to increase our competitiveness and simplify the organization, increasing the flexibility and speed with which we are able to take decisions. The aim is to achieve a reduction of some US$800 million in total costs by 2018 or, in other words, approximately 5% of LATAM Airlines Group's annual expenditure, a saving that is in addition to the efficiency gains achieved through the incorporation of new-technology aircraft. In brief, we aim to work in a simpler manner with a culture of greater austerity.

We are aware that, in our region, the coming years will be complex and challenging, due to slower growth of its economies and important depreciations of its currencies. We are, however, convinced that the strategic plan we have drawn up and are implementing will allow us to successfully achieve our long-term goals, overcoming the difficulties that currently affect our markets and the volatility inherent to the context in which we operate. We know that we cannot be oblivious to the realities of our industry and the region in which we operate. We have, therefore, given priority to proactive risk management, taking into account all our stakeholders, in line with our belief that a broad and integral view of risk and its proper management are key for our long-term success.

Although the integration of LAN and TAM has taken time, we are convinced that the association of these two companies has meant gains for all of us - LAN, TAM and LATAM Airlines Group. As well as thanking our shareholders for the trust they have placed in this administration, I would, therefore, also particularly like to pay tribute to the more than 53,000 people who work in the different countries where we operate. They have given the best of themselves in contributing to the consolidation of this historic project for Latin America's airline industry. And, above all, I would like to invite them to continue working with the same passion and commitment to make LATAM Airlines Group one of the world's three most important airline groups.

Enrique Cueto
CEO of LATAM Airlines Group
LATAM Airlines Group


Fleet

In 2014, LATAM Airlines Group's member airlines operated a fleet comprised by 327 aircraft with an average age of 6.9 years, being one of the youngest in the industry.

During the year, further progress was achieved on the fleet restructuring plan launched in 2013 to reduce the number of aircraft models operated. This plan, which is the result of a profound analysis of the LATAM's fleet needs after the association between LAN Airlines and TAM and the structural changes that have occurred in the competitive environment, implies that, over the next few years, 39 less efficient planes will be phased out of the fleet and aircraft models will be allocated to the most appropriate markets.

In 2014, LATAM phased out all of its Dash Q400s and Boeing 737s (inherited from the Aires airline in Colombia) as well as seven A330s and three A340s and expects to conclude the phase out of these older models by 2016. As a result, its fleet will comprise the most efficient aircraft available in the market.

In the first quarter of the year, LATAM recognized a provision of US$112 million for estimated penalties related to the anticipated redeliveries and other redelivery expenses expected to be incurred as a result of this fleet restructuring process.

For its short-haul passenger operations - flights on domestic routes and regional routes within South America – the airlines that make up LATAM Airlines Group utilized a fleet of 238 aircraft in 2014.

For its short-haul passenger operations - flights on domestic routes and regional routes within South America – the airlines that make up LATAM Airlines Group utilized a fleet of 238 aircraft in 2014, mainly from the Airbus A320 family, positioning it as one of the world's three largest operators of Airbus planes in the world. In 2014, LATAM incorporated 11 Airbus A321s, the largest model in this family, which is used on the busiest regional routes. This left LATAM with a total of 21 aircraft of this model as of December 2014.

LATAM’s medium-term plan on short haul routes is to have a fleet formed exclusively by aircraft from the A320 family, with a focus on A321s and A320neos, whose use represents significant savings in comparison to A320s. The A320neo is a new option within the A320 family with a more efficient engine and new sharklets implying savings of up to 15% on fuel and a reduction in annual CO2 emissions of 3,600 tons. LATAM has placed orders for 36 A320neos which will be delivered between 2016 and 2018.

For its long-haul passenger operations, the airlines that make up LATAM Airlines Group utilized a fleet of 74 aircraft in 2014, including ten Boeing 787-8 Dreamliners, five of which were incorporated during the year, as part of an order for a total of 32 aircraft of this model for delivery over the next four years. Considered "ecological" and the most efficient of its type, this model is now operated by the Company on almost all its main long-haul routes. In addition to the Company's daily operations from Santiago to Madrid-Frankfurt, New York and Buenos Aires, the Dreamliner began to be utilized on five other routes starting in August: Miami, Punta Cana, Cancun, Mexico City and Sao Paulo. LATAM Airlines Group is the first group of airlines in the region to operate this aircraft model which stands out for characteristics that include its unrivalled performance in regard to fuel consumption, presenting a 12% reduction in costs per ASK as compared to the Boeing 767.

In 2014, LATAM also began retrofitting TAM's Boeing 777s in order to include an improved business class and offer a better product on long-haul routes, mainly to the United States.

In 2014, LATAM also began retrofitting TAM's Boeing 777s in order to include an improved business class and offer a better product on long-haul routes, mainly to the United States. As of December2014, four of these aircraft had been already retrofitted and full retrofit of this fleet is expected to be completed by mid-2015. This process seeks to enhance passengers' travel experience for the next years, while TAM waits to receive a larger critical mass of Airbus A350s. The incorporation of this aircraft model will imply a very important increase in efficiency as compared to existing aircraft in this category, thanks to operating costs that are around 25% lower than those of other aircraft, such as TAM's Airbus A330s, and a significant reduction in CO2 emissions. In 2015, LATAM Airlines Group expects to take delivery of the first Airbus A350 aircraft out of a total order of 27 A350s, which will be a milestone in the step towards a new generation of long-haul aircraft in TAM's fleet.

Overall, the LATAM's constant renewal of its fleet seeks to incorporate the best technology and position it as a leader on efficiency and an increase in capacity through the incorporation of larger models.

As of December 2014, LATAM had a fleet of 15 full dedicated cargo, comprising eleven Boeing 767Fs - two of which have been leased to a cargo operator outside the region since the last quarter of 2014 and one of which was also leased to the same operator in 2015 - and four Boeing 777Fs, the most modern freighters of their type in the industry. The latter have a significant advantage as compared to the B767 freighters since they may transport double capacity but only consume 50% extra fuel.

LATAM's cargo business strategy aims to optimize the use of the bellies of its passenger aicraft and, as a result, implies a gradual reduction in its freighter fleet.

LATAM's global fleet plan envisages commitments for US$1,689 million in 2015 and US$2,343 million in 2016. These will be financed using a combination of financial lease and sale and leaseback (acquisition with subsequent rental).

MAINTENANCE

In 2014, LATAM Airlines Group continued to consolidate the integration of LAN's and TAM's Maintenance, Repair and Overhaul (MRO) installations, a process that began in 2013.

With facilities in Brazil and Chile, the MRO is the unit responsible for heavy maintenance of the LATAM's aircraft and occasionally also provides services to third parties. In Brazil, the facility, located in the São Carlos (SP/Brazil) Technological Center, has an area of 100,000 m² and its own 1,720-meter runway while the Chilean facility, at Santiago's International Airport, has an area of 10,000 m². Services not provided by this unit are outsourced to some of MRO's partners around the world.

LATAM's MRO unit is audited and certified by major international aviation authorities from the United States, Europe, Brazil, Chile, Argentina, Ecuador, Paraguay and Canada as well as other countries for Heavy Maintenance and Components Repair and Overhaul for the Airbus A320 and A330 families, Boeing 767s and 787s, ATR-42/72s and Embraer E-Jet 170/190s. LATAM also has minor capabilities for the repair and overhaul of Airbus A340 and Boeing 777 components.

The facilities located in São Carlos also provide engineering services and have a complete technical training center for the development of LATAM MRO's capabilities as regards human skills.

In 2014, the MRO unit carried out 2.5 million man-hours of work (a 39% increase on 2013), serviced 274 aircraft for LATAM and third parties, provided approximately 60,000 components and performed 15 landing-gear overhauls. In addition, it carried out heavy maintenance for almost 100% of the Company's aircraft from the Airbus A320 and A330 families and covered 75% of its demand for General Component Repair and Overhaul. TAM's external maintenance and repair clients include Azul, Trip, Avianca, the Brazilian Air Force, Embraer, Goodrich and Hamilton Sundstrand.

It is important to note that, in 2011, LATAM embarked on a process of transformation of its MRO area in order to align it with international standards as regards cost, quality, reliability and time. In 2014, in the context of this process, it completed a year without any type of accident at MRO Sao Paulo while MRO Santiago reduced its accident rate by 40%.

In June 2014, LATAM Airlines Group started construction of a modern new maintenance hangar at Miami's international airport. Representing an investment of over US$15.7 million, this will have an area of 9,150 m² and will be its first such facility in the United States. Located in the airport's cargo area, it will provide maintenance services such as daily controls, A checks, engine changes and major repairs for both the passenger and cargo planes of LAN, TAM and the subsidiaries that operate to and from Miami. Changes of components will also take place at the facility since it will serve to store spares, components and aircraft engines to support maintenance services of this type.

Rented Owned Total
Passengers Aircraft
Dash 8-200 5 2 7
Airbus A319-100 12 40 52
Airbus A320-200 63 95 158
Airbus A321-200 3 18 21
Airbus A330-200 5 8 13
Boeing 767-300 4 34 38
Airbus A340-300/500 0 3 3
Boeing 777-300 ER 6 4 10
Boeing 787-8 4 6 10
TOTAL 102 210 312
Flota Carga
Boeing 777-200F 2 2 4
Boeing 767-300F 3 8 11
TOTAL 5 10 15
TOTAL FLEET 107 220 327

Familia Airbus A320

A319-100
Length: 33,8 mts
Width: 34,1 mts
Seats: 144
Cruising Speed: 850 km/h
Maximun weigth at taken-off: 70.000 kg

A320-200
Length: 37,6 mts
Width: 34,1 mts
Seats: 168 - 174
Cruising Speed: 850 km/h
Maximun weigth at taken-off: 77.000 kg

A321-200
Length: 44,51 mts
Width: 34,1 mts
Seats: 220
Cruising Speed: 850 km/h
Maximun weigth at taken-off: 89.000 kg

FAMILIA AIRBUS A340


A340-300 Length: 63,7 mts
Width: 60,3 mts
Seats: 260
Cruising Speed: 896 km/h
Maximun weigth at taken-off: 275.000 kg

A340-500
Length: 67,9 mts
Width: 63,45 mts
Seats: 267
Cruising Speed: 907 km/h
Maximun weigth at taken-off: 372.000 kg

FAMILIA BOEING

Boeing 767-300
Length: 54,2 mts
Width: 47,6 mts
Seats: 221 - 238 - 205
Cruising Speed: 869 km/h
Maximun weigth at taken-off: 184.611 kg

Boeing 777-300 ER
Length: 73,9 mts
Width: 64,8 mts
Seats: 362
Cruising Speed: 896 km/h
Maximun weigth at taken-off: 347.800 kg

Boeing 787-8
Length: 56,69 mts
Width: 60,0 mts
Seats: 247
Cruising Speed: 913 km/h
Maximun weigth at taken-off: 227.930 kg

Familia Dash

Dash 8-200
Length: 22,25 mts
Width: 25,89 mts
Seats: 37
Cruising Speed: 500 km/h
Maximun weigth at taken-off: 16,470 kg

Familia Boeing Freighter

Boeing Freighter 767
Length: 54,2 mts
Width: 47,6 mts
Volumen de carga: 438,1 m3
Cruising Speed: 896 km/h
Maximun weigth at taken-off: 186,880 kg

Boeing Freighter 777
Length: 63,7 mts
Width: 64,8 mts
Volumen de carga: 652,7 m3
Cruising Speed: 896 km/h
Maximun weigth at taken-off: 347,450 kg


Our people

As of December 2014, LATAM Airlines Group had 53,072 employees of 61 different nationalities across 26 countries.

As of December 2014, LATAM Airlines Group had 53,072 employees of 61 different nationalities across 26 countries. It is, as a result, a multicultural as well as multinational company, giving it important advantages in terms of understanding its different markets and their people.

The multiculturalism that characterizes LATAM Airlines Group's human teams also implied important challenges for the association between LAN Airlines and TAM, a context in which the Human Resources area has played a decisive role over the past two years in terms of mitigating the impact that any organizational change has on people's lives.

In 2014, further progress was achieved in this field in standardizing policies and cultures so as to embed and consolidate a single LATAM Airlines Group corporate identity. In addition, LATAM showed its commitment to the organizational strength as one of the main success factors included in its 2015-2018 Strategic Plan, where the focus will be to transform LATAM Airlines Group in a group of passionate people working in a simple, unified way, with inspiring leaders, in order to provide a distinctive value proposition to our customers and to have a healthy and sustainable company in time.

The first LATAM corporate induction was designed in 2014, addressing not only the Group's shared characteristics but also the new LATAM culture and its strategic pillars

The first LATAM corporate induction was designed in 2014, addressing not only the Group's shared characteristics but also the new LATAM culture and its strategic pillars. This training product standardized the integration process for all LATAM's collaborators in the different geographical areas where it has operations, contributing to the success of the new growth strategy it has defined.

The training area also provided support for the SAB Service Procedures Standardization project in Brazil, implemented to ensure that all passengers enjoy the same travel experience. Training was designed in line with the changes this project implied at the level of roles and products, covering all of LATAM's 5,500 cabin crew in Brazil. Ad hoc courses were also designed to equip TAM Mercosur crew in Paraguay for the challenge of interchange flights and LAN's operational standards.

One of the most important training initiatives of 2014 was the "Celebrating Service" course which, with an attitudinal focus, provided tools to help all employees in contact with passengers (sales, contact centers, airports and in-flight personnel) to provide a more assertive service and relate better to customers. The transversal design of this course permitted development of these skills in an efficient and consistent manner whilst maintaining excellence.

With the support of LATAM's Legal area, a Code of Conduct course was also implemented to familiarize its over 53,000 collaborators with the framework within which they must carry out their tasks, avoiding potentially illegal actions or situations that would compromise LATAM Airlines Group as a whole.

In 2014, a Corporate Selection area was created, based in Santiago, Chile, to coordinate the selection areas of the different countries where the company has operations. This area led different projects with a LATAM scope to align policies, design improvements and introduce practices which make for simpler management of processes and whose results will begin to be seen as from 2015.

In addition, a tool for interviewing candidates to fill vacancies was designed in order to identify whether they possess a behavioral profile consistent with the four LATAM cultural skills (Safety and Risk Management, Care for the Customer, Excellence, and Teamwork and Collaboration). Among other innovations, LATAM will also have a new platform hosted within the internal Peoplemanager system to manage internal job applications (job posting) more securely and efficiently as well as standardizing and automating the different stages of selection processes at the holding level.


Business strategy

LATAM Airlines Group S.A. (from now on “LATAM Airlines Group” or “LATAM”) is a South American airline group.

LATAM Airlines Group S.A. (from now on “LATAM Airlines Group” or “LATAM”) is a South American airline group that is the result of the association between Chile's LAN Airlines and Brazil's TAM. It has business units in seven countries in the region: Argentina, Brazil, Chile, Colombia, Ecuador, Paraguay and Peru.

Two years after the association and following an important restructuring and consolidation process, LATAM Airlines Group is now an integrated airline that has fully implemented all its initiatives to capture synergies and has a consolidated position as Latin America's largest air transport company, with capacity to carry over 67 million passengers and more than 1 million tons of cargo annually.

One of LATAM's key strengths of the group airlines that make up LATAM Airlines Group is the large network of destinations it has developed, thanks to its unique position of leadership in South America. This is the result of its presence in seven of the region's domestic markets, which together account for over 90% of regional traffic, where LATAM has the competitive advantage of acting as a local operator. Intra-regionally, LATAM has a market share of close to 50%, implying that one in two people who travel within South America do so with the group airlines that make up LATAM Airlines Group. It is also important to note that, in recent years, South America has been one of the world's fastest-growing regions as regards passenger traffic, a situation that is expected to persist over the next two decades, representing a great opportunity for LATAM.

Outside South America, LATAM and its related companies fly to the main points of entry to other regions and also provides additional connectivity through its membership of the oneworld global alliance.

Outside South America, LATAM and its related companies fly to the main points of entry to other regions and also provides additional connectivity through its membership of the oneworld global alliance (which TAM also joined in March 2014) as well as its numerous commercial agreements with the industry's main airlines.

With its focus on providing the best connectivity, LATAM has established a key position in the principal hubs that connect the region with the rest of the world, with special emphasis on Sao Paulo's Guarulhos airport. In late 2014, LATAM took a further important step in this direction when it transferred its international operations to the new Terminal 3 at Guarulhos, enabling it to reduce connection times significantly.

In addition to its network, another differentiating characteristic of LATAM Airlines Group is a business model which successfully combines the transport of passengers and cargo, a strategy that enables it to maximize load factors on passenger planes through use of their bellies to transport cargo, complementing the use of freighters and diversifying its sources of income. The flexibility afforded by this business model allows LATAM to increase returns on its routes, reduce the impact of seasonal factors and increase load factors. As of December 2014, 83% of its revenues were contributed by its passenger business and 14% by its cargo operation among other activities.

For its operations, LATAM Airlines Group has a fleet of 327 aircraft (as of December 2014) with an average age of less than 7 years that stands out as one of the most modern and youngest in the world.

For its operations, LATAM Airlines Group has a fleet of 327 aircraft (as of December 2014) with an average age of less than 7 years that stands out as one of the most modern and youngest in the world. Its growth strategy envisages constant fleet renewal in order to operate with more efficient aircraft, with lesser environmental impact, and to offer passengers the highest standards of punctuality, reliability and safety. In this context, LATAM Airlines Group continued with its fleet restructuring process in 2014, gradually phasing out older aircraft and focusing on having only those with the best technology offered by the industry, including Boeing B787 Dreamliners and Airbus A321s.

Through this plan, LATAM will be seeking to become one of the world's three largest airline groups and the preferred airline of two-thirds of passengers flying within South America.


History

1975

Foundation of TAMTransportes Aéreos Regionais by Capitan Rolim Adolfo Amaro.

1976

Launch of TAM services in Brazilian cities, especially Mato Grosso and São Paulo.

1983

Constitution of Linea Aerea Nacional – Chile Limitada, through CORFO.

1985

LAN becomes a joint stock company.

1986

Acquisition by TAM of VOTEC-Brasil Central Linhas Aéreas, another regional airline operating in the north and center of the country.

1989

Start of privatization of LAN: the Chilean government sells a 51% stake to local investors and Scandinavian Airlines System (SAS).

1990

Brasil Central renamed TAM-Transportes Aéreos Meridonais.

1993

Launch by TAM of TAM Fidelidade, Brazil’s first frequent flyer program.

1996

Privatization of LAN completed with the acquisition of a 98.7% stake by its current controllers and other shareholders.

1997

Acquisition by TAM of Lapsa airline from the Paraguayan government and creation of TAM Mercosur; start of São Paulo-Asunción flights.

1998

Arrival of first A330; first TAM international flight from São Paulo to Miami.

1999

LAN’s expansion begins: start of operations of LAN Perú.


Start of TAM services to Europe through a code sharing agreement with Air France to Paris Charles de Gaulle.

2000

LAN joins the oneworld® alliance.

2001

LAN Alliance with Iberia and inauguration of Miami cargo terminal / Creation of TAM Technology Center and Service Academy in São Paulo.


Creation of TAM Technology Center and Service Academy in São Paulo.

2002

LAN Alliance with Qantas and Lufthansa Cargo

2003

LAN continues its expansion plan: start of operations of LAN Ecuador.

2004

Launch of new corporate image as LAN Airlines S.A.


Start of TAM flights to Santiago.

2005

Further step in LAN’s regional expansion plan: start of operations of LAN Argentina.


TAM S.A. lists on the BOVESPA stock market; start of flights to New York and Buenos Aires.

2006

Launch of new LAN Premium Business Class.


TAM S.A. lists on the NYSE / Start of flights to London and, through agreement with Air France, to Zurich and Geneva.

2007

Implementation of low-cost model in domestic markets; capital increase of US$320 million; purchase orders for 32 Boeing 787 Dreamliners.


Start of TAM flights to Milan and Córdoba; authorization from Brazil’s National Civil Aviation Agency (ANAC) to start flights to Madrid and Frankfurt.

2008

Completion of renewal of LAN’s short-haul fleet with aircraft from the Airbus A320 family.


TAM receives its first Boeing 777-300ER.

2009

Start of cargo operations in Colombia and domestic passenger operations in Ecuador.


Launch of Multiplus Fidelidade; Acquisition of Pantanal Linhas Aéreas

2010

Acquisition of Colombia’s Aires airline.


TAM officially joins Star Alliance.

2011

LAN and TAM sign binding agreements related to the business combination of the two airlines.

2012

LATAM Airlines Group is born as a result of the business combination between LAN and TAM.

2013

Capital increase for US$ 940.5 million

2014

TAM joins oneworld alliance, which becomes LATAM Airlines Group global alliance.


LATAM launches its 2015- 2018 Strategic Plan aiming to become one of the 3 most important ailrine groups in the world.

Destinations


LATAM AIRLINES GROUP INFORMATION

LATAM AIRLINES GROUP.

Chilean Tax N° (RUT): 89.862.200-2
CORPORATE HEADQUARTERS
Avenida Presidente Riesco 5711, 19th Floor
Las Condes, Santiago, Chile
Tel: (56) (2) 2565 2525

MAINTENANCE CENTER

Arturo Merino Benítez Airport
Santiago, Chile
Tel: (56) (2) 25652525
TICKER SYMBOL
LAN – Santiago Stock Exchange
LFL – New York Stock Exchange
LATM33 – Sao Paulo Stock Exchange

FINANCIAL INFORMATION

Investor Relations
LATAM Airlines Group S.A
Avenida Presidente Riesco 5711, 20th Floor
Las Condes, Santiago, Chile
Tel: (56) (2) 2565 8785
Email: Investor.Relations@lan.com

SHAREHOLDER ENQUIRIES

Depósito Central de Valores
Huérfanos 770, 22nd Floor
Santiago, Chile
Tel: (56) (2) 2393 9003
Email: atencionaccionistas@dcv.cl

DEPOSITARY BANK ADRS

JPMorgan Chase Bank, N.A.
P.O. Box 64504
St. Paul, MN 55164-0504
Tel: General (800) 990-1135
Tel: From outside US (651) 453-2128
Tel: Global Invest Direct (800) 428-4237
Email: jpmorgan.adr@wellsfargo.com

CUSTODIAN BANK ADRS

Banco Santander Chile
Bandera 140, Santiago
Custody Department
Tel: (56) (2) 2320 3320

CUSTODIAN/DEPOSITARY BANK BDRS

Itaú Corretora de Valores S.A.
Rua Ururaí, 111 – Prédio II – Piso Térreo
Tatuapé – São Paulo/SP
CEP: 03084-010
Attention: Unidade Dedicada Produto ADR/BDR
Tel.: 55 11 2797 3411
Email: dr.itau@itau-unibanco.com.br

EXTERNAL AUDITORS

Pricewaterhouse Coopers
Avenida Andrés Bello 2711, Piso 5
Santiago, Chile
Tel: (56) (2) 2940 0000

WEBSITES


Complete information about LATAM Airlines:
www.latamairlinesgroup.net
www.lan.com
www.tam.com.br


Subsidiaries-and-Affiliated-Companies

PDF: Subsidiaries and Affiliated Companies