AWAS announces purchase and leaseback transaction of 5 new A320s for new customer LAN Airlines

Dublin based global aircraft lessor, AWAS, announced that it has agreed with LAN Airlines, one of the leading passenger and cargo airlines in Latin America, to enter into a purchase and lease back transaction for 5 Airbus A320 aircraft that the carrier had previously ordered directly from the manufacturer for 2011-2012 delivery.

AWAS is also announcing today that it has delivered the first of these passenger aircraft to LAN.

LAN will use these new fuel-efficient, narrowbody aircraft to strengthen their regional network throughout South America.

“LAN is pleased to work with AWAS to facilitate the addition of 5 new, modern and fuel-efficient Airbus A320 aircraft into our growing fleet,” said Roberto Alvo, Senior VP Strategic Planning and Corporate Development, LAN Airlines.

“AWAS is extremely proud to be able to add LAN Airlines as a customer,” said Ray Sisson, President & CEO AWAS. “This significant event for AWAS is a credit to the expertise and dedication of our Americas Team, particularly Managing Director Walter Valarezo, and VP Sales Sergio Gonzalez, who worked on the ground with LAN to deliver a solution that met their fleet planning and business needs.”

About AWAS

AWAS is one of the leading aircraft leasing companies and recently celebrated its 25th year of serving customers around the globe. The company is managed by a highly experienced and dedicated team of commercial aviation industry professionals serving markets in The Americas, Europe, Middle East, Africa, and Asia/Pacific.

AWAS owns a portfolio of more than 200 modern aircraft with a further 100+ aircraft on order from Airbus and Boeing including a number of next generation aircraft. The aircraft portfolio is on lease to over 90 airline customers in 46 countries. The AWAS fleet features a full range of the most popular aircraft types which includes both narrow-bodied and wide-body aircraft.

AWAS is headquartered in Dublin, with offices in New York, Miami, and Singapore.

www.awas.com

About LAN

LAN Airlines is one of the leading passenger and cargo airlines in Latin America. The company and its affiliates serve over 76 destinations around the world through an extensive network that offers full connectivity within Latin America, while also linking the region with North America, Europe and the South Pacific, as well as 93 additional international destinations through its various code share agreements. LAN Airlines and its affiliates have a leading position in their respective domestic markets of Chile and Peru as well as an important presence in the Argentinean and Ecuadorian domestic markets. Furthermore, in November 2010, LAN acquired Colombian airline AIRES.

Currently, LAN Airlines and its affiliates operate 125 passenger aircraft while LAN Cargo and its respective affiliates have a fleet of 14 dedicated freighters. The Company has one of the youngest fleets in the world which has meant greater efficiency and a significant reduction in CO2 emissions, reflecting its strong commitment to the protection of the environment.

LAN is one of the few Investment Grade airlines in the world (BBB). The company’s world class quality standards enabled its membership in oneworld™, an alliance of leading global airlines of which LAN has been a member for 10 years. For more information please visit www.lan.com or www.oneworldalliance.com.