DOHA, Qatar, LATAM Airlines Group S.A. (“LATAM”), the leading airline group in Latin America, and world-class airline, Qatar Airways, both members of the one world alliance, announced today that, Qatar Airways, through its wholly owned subsidiary, Qatar Airways Investments (UK) Ltd (“Qatar”), completed its acquisition of 10 percent of LATAM, reaching a total of 60,837,452 shares.

The preemptive rights offering of 61,316,424 new shares, at a price per share of US$10, ended on Dec 23, 2016, in which Qatar subscribed shares of LATAM through its wholly-owned subsidiary, Qatar Airways Investments (UK) Ltd., in its capacity as assignee of the preemptive right, assigned by the shareholders of the Cueto, Amaro, Eblen and Bethia Groups to Qatar, as agreed between LATAM and Qatar, and other minority shareholders subscribed 12,140 shares of LATAM.

Later, on Dec 28, 2016 (yesterday), Qatar subscribed 30,349,907 shares, not subscribed by the shareholders during the preemptive rights period.

Qatar Airways, the national carrier of the State of Qatar, is one of the fastest growing airlines, operating one of the youngest fleets in the world. Now in its 19th year of operations, Qatar Airways has a modern fleet of 192 aircraft, flying to more than 150 key business and leisure destinations across six continents.

A multiple award-winning airline, Qatar Airways was awarded World’s Best Business Class; Best Business Class Airline Lounge and Best Airline Staff Service in the Middle East, at the prestigious 2016 World Airline Awards, managed by international air transport rating organisation Skytrax.

Qatar Airways is a member of the oneworld global alliance. The award-winning alliance was named the World’s Best Airline Alliance 2015, by Skytrax for the third year running.

Qatar Airways was the first Gulf carrier to join global airline alliance, oneworld, enabling its passengers to benefit from more than 1,000 airports in more than 150 countries, with 14,250 daily departures.

LATAM Airlines Group S.A. is the new name given to LAN Airlines S.A., as a result of its association with TAM S.A. LATAM Airlines Group S.A. now includes LATAM Airlines Group (before LAN Airlines) and its affiliates in Peru, Argentina, Colombia and Ecuador, and LATAM Cargo and its affiliates, as well as, TAM S.A. and its subsidiaries TAM Linhas Aereas S.A. (LATAM Airlines Brasil), including its business units, TAM Transportes Aereos del Mercosur S.A., (LATAM Airlines Paraguay) and Multiplus S.A.

This association creates one of the largest airline groups in the world, in terms of network connections, providing passenger transport services to about 140 destinations in 25 countries, and cargo services to about 140 destinations in 29 countries, with a fleet of 335 aircraft. In total, LATAM Airlines Group S.A. has more than 47,000 employees and its shares are traded in Santiago, as well as, on the New York Stock Exchange, in the form of ADR’s (American Depositary Receipts).

LATAM is the brand that has been adopted by the airline members of LATAM Airlines Group, and has started to implement the LATAM and LATAM Airlines brand to its customer contact points and aircraft, as part of a gradual roll-out that will last until 2019.