Santiago, Chile, December 22, 2015 - LATAM Airlines Group S.A. and its subsidiaries, (“LATAM Airlines Group” or “the Company”) (NYSE: LFL / IPSA: LAN / Bovespa: LATM33), the leading airline group in Latin America, announced today that in relation to the requirement presented by the FNE (“FNE” - Fiscalía Nacional Económica) to the TDLC (“TDLC” - Tribunal de Defensa de la Libre Competencia), LATAM Airlines Group S.A (“LATAM”) informs that it has reached a settlement agreement with FNE which has been approved by TDLC, ending the judgment.<?xml:namespace prefix="o" ns="urn:schemas-microsoft-com:office:office"?>

According to the agreement, LATAM and FNE have solved out the discrepancies that gave rise the requirement.  As a result, the agreement does not imply fines for LATAM or the recognition of any infraction, but the partial cancellations of 4 codeshare agreements that FNE estimated for certain companies of the LATAM Group could not keep, due to the resolution that approved the LAN and TAM concentration operation.  Likewise, according to the agreement, the airlines of the LATAM Group may keep the codeshare agreements with airlines from the Asian continent and another codeshare agreement for routes in Argentina, which were originally, objected  by the FNE in the requirement.

It is important to highlight, that due to the strengthening of the business alliances with other airlines –such as interline agreements, codeshare or the participation in the oneworld alliance - which added to the 140 airports that offer the present network of the LATAM Airlines Group, the company is able to transport their passengers to all destinations around the world.