LAN to invest $2.8 billion in fleet

LAN will invest US$2.83 billion to expand its fleet between 2010 and 2013, says chairman Jorge Awad. $500 million will be invested this year and $1 billion next, to buy both short- and long-haul aircraft, increasing its fleet from 96 aircraft to 176 in 2018.

LAN has revealed its net profit rose 36 per cent to $88.3 million in the first quarter. Part of this was due to the $57.9 million hedging loss in the first quarter of 2009, which lowered significantly to only $2.63 million in the first quarter of 2010.

The Chilean carrier blamed the Santiago earthquake for limiting any further growth in the quarter.

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