LAN Airlines S.A. and its related companies, ("LAN" or "the
Company") (NYSE: LFL / IPSA: LAN), today announced the successful
completion of its equity offering, raising a total of US$320 million
in the Chilean and United States markets.
The transaction was completed via a global offering and a
subsequent rights offering in both Chile and the United States. As of
the closing of the rights offering on June 17, 2007, only
approximately 2.5% of the shares were remaining; these shares were
sold yesterday in the Chilean market.
Through this offering the Company placed a total of 19,881,819
common shares, a 6.2% increase in its share count. With this, LAN's
total shares outstanding amount to 338,790,909.
As approved by the Shareholders Meeting on April 5, 2007, an
additional 2,209,091 common shares, equivalent to 10% of the total
approved new share issuance, have not yet been placed and are reserved
for a stock option plan for Company employees.
Mr. Alejandro de la Fuente, LAN's Chief Financial Officer stated,
"The success of this offering is evidence of the market's confidence
in LAN and its business plan. We are extremely pleased with its
outcome and will continue to work hard to deliver results to our
equity investors."
About LAN
LAN Airlines is one of the leading airlines in Latin America.
"LAN" makes reference to the consolidated entity that includes LAN
Airlines, LAN Express, LAN Peru, LAN Ecuador, and LAN Argentina, as
well as LAN Cargo and its affiliates. The LAN Alliance serves 15
destinations in Chile, 12 destinations in Peru, 10 destinations in
Argentina, two destinations in Ecuador, 15 destinations in other Latin
American countries and the Caribbean, three destinations in the United
States, two destinations in Europe and four destinations in the South
Pacific, as well as 52 additional international destinations through
its various code-share agreements. Currently, the LAN Alliance
operates 70 passenger aircraft and 10 dedicated freighters.
LAN Airlines is a member of oneworld (TM), the world's leading
global airline alliance. It has bilateral commercial agreements with
oneworld partners American Airlines, British Airways, Iberia and
Qantas, as well as with Alaska Airlines, AeroMexico, Mexicana, TAM and
Korean Air. For more information visit www.lan.com or
www.oneworldalliance.com.
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