Document:

Exhibit 4.24.6

 

Exhibit E

 

Termination Agreement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

 

AIRBUS S.A.S.

 

and

 

LATAM AIRLINES GROUP S.A.

 

 

 

TERMINATION AGREEMENT

 

in respect of

 

THE A350XWB PURCHASE AGREEMENT

  

    Page 1 of 8

     

    

 

This termination agreement (this “Termination Agreement”)
is made as of the __day of _________ 2021,

 

Between

 

		1.	AIRBUS S.A.S., a Société par Actions Simplifiée
duly created and existing under French law having its principal office at 2 rond-point Emile Dewoitine, 31700 Blagnac, France and includes
its successors and assigns (the “Seller”); and

 

		2.	LATAM AIRLINES GROUP S.A., a company organised and existing
under the laws of Chile, having its principal office at Edificio Huidobro, Avenida Presidente Riesco 5711 – 20th Floor, Las Condes,
SANTIAGO, CHILE (the “Buyer”),

 

the Seller and the Buyer are hereinafter referred
together as the “Parties” or each as a “Party”.

 

WHEREAS

 

		(A)	The Seller and TAM Linhas Aereas S.A. (the “Original
Buyer”) signed the A350 XWB purchase agreement (Reference CSC.337.0179/07) on 20 December 2005 (including all exhibits, appendices
and letter agreements) relating to the purchase by the Original Buyer and the sale by the Seller of certain A350 XWB aircraft, as amended
and supplemented from time to time and as novated through a novation agreement dated 21 July 2014 between the Original Buyer, the Buyer
and the Seller (the “Purchase Agreement”).

 

		(B)	On 26 May 2020 (the “Petition Date”), the
Buyer filed a voluntary petition for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”)
in the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court” and such proceedings,
the “Chapter 11 Cases”), and in connection therewith, has informed the Buyer of its decision to reject the Purchase
Agreement pursuant to Section 365(a) of the Bankruptcy Code.

 

NOW THEREFORE IT IS AGREED AS FOLLOWS:

 

		1.	DEFINITIONS

 

		1.1.	In this Termination Agreement, capitalised terms and expressions
not otherwise defined herein shall, unless the context otherwise requires, have the meaning given to them in the Purchase Agreement.

 

		1.2.	In addition, the following terms shall have the following meanings:

 

		(a)	“A350 Amendment No.9” means the amendment
No.9 entered into between the Parties in respect of the Purchase Agreement dated 22 September 2017 between the Buyer and the Seller (as
amended from time to time).

 

		(b)	“A350 Amendment No.13” means the amendment
No.13 entered into between the Parties in respect of the Purchase Agreement dated 31 March 2020 between the Buyer and the Seller (as
amended from time to time).

 

    Page 2 of 8

     

    

 

		(c)	“Letter Agreement No. 1 to Amendment No. 2”
means the letter agreement No.1 to the amendment No.2 entered into between the Parties in respect of the Purchase Agreement dated 15
July 2014 (as amended from time to time).

 

		(d)	“Terminated Aircraft” means REDACTED*

 

		2.	TERMINATION

 

The Parties agree that, as regards
any rights and obligations that the Parties may have against each other and unless otherwise provided herein, with effect from the date
hereof, all of their rights and obligations under the Purchase Agreement in relation to Terminated Aircraft and unless otherwise provided
herein,shall be terminated forthwith without further act.

 

REDACTED*

 

 

 

 

 

Consequently, each Party irrevocably
waives any right to initiate any dispute resolution proceedings, including court or arbitration proceedings, against the other Party in
relation to the Purchase Agreement in relation to the Terminated Aircraft.

 

The Parties agree that clause
22.10 of the Purchase Agreement relating to non- disclosure shall remain in full force and effect notwithstanding the termination of the
Purchase Agreement in relation to the Terminated Aircraft.

 

REDACTED*

 

  

 

		*	All text marked “REDACTED*” is Redacted Per Amended
Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 3 of 8

     

    

 

REDACTED*

 

 

REDACTED*

 

  

 

		*	All text marked “REDACTED*” is Redacted Per Amended
Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 4 of 8

     

    

 

 

		4.	CONDITION PRECEDENT

 

The Seller and the Buyer hereby
agree that it shall be a condition precedent to the effectiveness of this Termination Agreement that the Bankruptcy Court shall have entered
an order in form and substance acceptable to the Buyer and the Seller (i) approving this Termination Agreement; (ii) authorizing the Buyer
and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents and the Assignment, Assumption
and Release Amendment Agreement and to assume the Assumed Purchase Agreements, as amended; (iii) providing that the obligations of the
Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended, the Termination Agreement, the Piquero Guarantee
and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative expense claims in the Case pursuant to
section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under the Piquero Guarantee shall be binding
upon and constitute obligations of the reorganized debtors or their successors.

 

In this Clause 4:

 

Amendment n°1 means
the amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

Amendment n°9 means
the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°18 means
the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°27 means
the amendment agreement to the Purchase Agreement 2 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means
the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment n°27, the Purchase Agreement 1 Letter Agreement
and the Purchase Agreement 2 Letter Agreements.

 

Assignment, Assumption and
Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between
the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer,
the Seller and Piquero.

 

Assumed Purchase Agreements
means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed (as
amended).

 

Consent Agreement Supplement means
the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and Banco Santander, S.A.
in relation to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent Agreement
Supplement and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

 

    Page 5 of 8

     

    

 

Piquero Guarantee means
the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter alia, the obligations
of Piquero under the Piquero Purchase Agreement.

 

Piquero Purchase Agreement
means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released pursuant to the
Assignment, Assumption and Release Amendment Agreement.

 

Purchase Agreement 1
means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller, and as amended and
supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into
from time to time relating thereto).

 

Purchase Agreement 1 Letter
Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase Agreement 2
means the Airbus A320 family purchase agreement dated 14 November 2006 and entered into between the Seller and TAM Linhas Aéreas
S.A., as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto), and as novated from TAM Linhas Aéreas S.A. to the Buyer on 30 October 2014.

 

Purchase Agreement 2 Letter
Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the letter agreement n°4,
the letter agreement n°5, the letter agreement n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment
n°27.

 

Purchase Agreement 3
means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer, as amended and
supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into
from time to time relating thereto).

 

		5.	MISCELLANEOUS PROVISIONS

 

		5.1	This Termination Agreement contains the entire agreement between
the Parties with respect to the subject matter hereof and supersedes any previous understandings, commitments or representations whatsoever,
oral or written, with respect to the matters referred to herein. This Termination Amendment shall not be amended except by an instrument
in writing executed by both Parties or by their duly authorised representatives.

 

		5.2	This Termination Agreement may be executed by the Parties in
separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute
one and the same agreement.

 

		5.3	If, at any time, any provision of this Termination Agreement
is or becomes illegal, invalid or unenforceable in any respect under any law of any jurisdiction, neither the legality, validity or enforceability
of the remaining provisions nor the legality, validity or enforceability of that provision under the law of any other jurisdiction will
in any way be affected or impaired.

 

    Page 6 of 8

     

    

 

		5.4	The Parties agrees that it shall not disclose any information
relating to this Termination Agreement except that the Buyer may disclose a copy of this Termination Agreement (i) to
the Bankruptcy Court to the extent necessary to obtain approval of this Termination Agreement and (ii) on a professional eyes’
only basis to (a) the Official Committee of Unsecured Creditors, (b) that certain Ad Hoc Group of LATAM Bondholders, and (c) the United
States Trustee. For the avoidance of doubt, to the extent the Buyer files this Termination Agreement with the Bankruptcy Court, the Buyer
shall seek to file this Termination Agreement and the Purchase Agreement, along with any related filings, under seal pursuant to the
Amended Standing Order Regarding Redactions (the “Standing Order”) entered by the Bankruptcy Court in the Chapter
11 Cases at Docket No. 1810.

 

		6.	LAW AND JURISDICTION

 

This Termination Agreement shall
be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection with this Termination
Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence of this Clause
6 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy
Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains, reference to the Bankruptcy
Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S. District Court for the Southern
District of New York or the state court of the State of New York located in New York County, New York.

 

Subject to the last sentence
of this Clause 6, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of the Chapter 11 Cases
for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the extent the Bankruptcy Court
abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have subject matter jurisdiction,
then to the U.S. District Court for the Southern District of New York or the state court of the State of New York located in New York
County, New York, and (ii) thereafter, the Courts of England.

 

For the avoidance of doubt,
nothing in this Clause 6 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain from hearing or otherwise
transfer a dispute arising under this Termination Agreement or to argue that the Bankruptcy Court does not have statutory authority to
adjudicate disputes arising under this Termination Agreement, nor any Party’s defenses in respect of any such request or argument.

 

    Page 7 of 8

     

    

 

IN WITNESS WHEREOF this Termination Agreement was duly entered
into the day and year first above written. 

 

	For and on behalf of	 	For and on behalf of

 

	LATAM AIRLINES GROUP S.A.		AIRBUS S.A.S.

 

	Name	:		 	Name	:	REDACTED*
	 	 	 	 	 
	Title	:		 	Title	:	REDACTED*

 

 

	Name	:		 
	 	 	 
	Title	:		 

 

  

 

		*	All text marked “REDACTED*” is Redacted Per Amended
Standing Order Regarding Redaction Dated February 2, 2021.

 

 

Page 8 of 8Exhibit 4.28.4

 

Exhibit H

 

Amendment No. 27 to A320/A330 Agreement

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

     

    

    

 

A M E N D M E N T N ° 27

 

T O T H E A 3 2 0 / A 3 3 0

 

P U R C H A S E A G R E E M E N T

 

B E T W E E N

 

A I R B U S S. A. S.

 

A N D

 

LATAM AIRLINES GROUP S.A.

 

REF: CT1242567

 

    Page 1 of 53

    

    

 

A M E N D M E N T N ° 27

 

T O   T H E

 

A 3 2 0 / A 3 3 0 P U R C H A S E A G R E E M E N T

 

This Amendment No.27 (“Amendment No.
27”) is made as of the ___ day of____________________ 2021 to the A320/A330 Purchase Agreement signed on November 14, 2006,

 

Between

 

AIRBUS S.A.S., having its principal office
at:

 

2 rond-point Emile Dewoitine

31700 BLAGNAC

FRANCE

 

and registered with the Commercial and Companies
Register of Toulouse under number 383 474 814 (hereinafter referred to as “the Seller”) of the one part,

 

AND

 

LATAM AIRLINES GROUP S.A., having its principal
office at:

 

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th Floor

Las Condes

SANTIAGO

CHILE

 

(herein after referred to as “the Buyer”)
of the other part.

 

The Buyer and the Seller being collectively referred
to as the “Parties” and individually as a “Party”.

 

WHEREAS

 

		A-	The Seller and TAM Linhas Aereas S.A. (the “Original
Buyer”) have signed on November 14, 2006, an A320/A330 Purchase Agreement (reference CCC 337.0068/06) covering the purchase
by the Original Buyer and the sale by the Seller of certain A320 Family Aircraft and A330-200 Aircraft which, together with all Exhibits,
Appendixes, Letter Agreements, Amendment No. 1, dated as of January 21, 2008, Amendment No. 2, dated as of October 15, 2008, Amendment
No. 3 dated as of July 1, 2009, Amendment No.4, dated as of July 1, 2009, Amendment No.5, dated as of December 24, 2009, Amendment No.6,
dated as of March 4, 2010, Amendment No.7, dated as of July 28, 2010 (“Amendment No.7”), Amendment No.8, dated as
of April 29, 2011, Amendment No.9, dated as of June 13, 2011, Amendment No.10, dated as of October 11, 2011, Amendment No.11, dated as
of October 11, 2011 (“Amendment No.11”), Amendment No.12, dated as of January 27, 2012, Amendment No. 13, dated as
of November 30, 2012, Amendment No. 14, dated as of December 14, 2012, Amendment No. 15, dated as of February 18, 2013, Amendment No.
16, dated as of February 27, 2013, Amendment No. 17, dated as of August 19, 2013 and Amendment No. 18, dated as of July 15, 2014, incorporated
therein is hereinafter referred to as the “A320/A330 Purchase Agreement”.

 

    Page 2 of 53

    

    

 

		B-	The Buyer, Seller and Original Buyer entered into a novation agreement dated 30 October 2014 (the “Novation”)
novating the Original Agreement from the Original Buyer to the Buyer.

 

		C-	The Buyer and the Seller entered into Amendment No. 19, dated as of December 11, 2014, Amendment No. 20,
dated as of June 3, 2015, Amendment No. 21, dated as of December 21, 2015, Amendment No. 22, dated as of April 15, 2016, Amendment No.
23, dated as of April 15, 2016, Amendment No. 24, dated as of August 8, 2016, Amendment No. 25, dated as of September 22, 2017, and Amendment
No.26 dated as of December 21, 2018 (the “Amendment No.26”) (together the “Amendments”).

 

		D-	On May 26, 2020 (the “Petition Date ”), the Buyer filed a voluntary petition for relief
under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States Bankruptcy Court
for the Southern District of New York (the “Bankruptcy Court” and such proceedings, the “Chapter 11 Cases”),
and in connection therewith, has informed the Seller of its decision to assume the Agreement (as defined below), as amended by the terms
hereof, pursuant to Section 365(a) of the Bankruptcy Code.

 

		E-	Now, (i) the Buyer and the Seller wish to reschedule the scheduled delivery period of certain NEO Aircraft,
and (ii) the Buyer wishes to purchase from the Seller and the Seller wishes to sell to the Buyer            REDACTED*            aircraft of the A320neo
family                 REDACTED*           REDACTED*                   pursuant to the terms and conditions set out into this Amendment No.27.

 

NOW THEREFORE IT IS AGREED AS FOLLOWS:

 

The A320/A330 Purchase Agreement as novated pursuant
to the Novation and amended pursuant to the Amendments and this Amendment No.27 is hereinafter referred to as the “Agreement”.

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 3 of 53

    

    

 

CONTENT

 

	Clause	 	TITLE	 	Page
	 	 	 	 	 
	1	 	RESCHEDULING	 	5
	 	 	 	 	 
	2	 	INCREMENTAL ORDER	 	5
	 	 	 	 	 
	3	 	DELIVERY SCHEDULE	 	11
	 	 	 	 	 
	4	 	PREDELIVERY PAYMENTS	 	15
	 	 	 	 	 
	5	 	PRICE REVISION PROTECTION	 	17
	 	 	 	 	 
	6	 	ADDITIONAL CONCESSIONS	 	18
	 	 	 	 	 
	7	 	BFE PROVISION	 	20
	 	 	 	 	 
	8	 	WAIVER	 	21
	 	 	 	 	 
	9	 	CONDITION PRECEDENT	 	21
	 	 	 	 	 
	10	 	CONFIDENTIALITY	 	22
	 	 	 	 	 
	11	 	LAW AND JURISDICTION	 	23
	 	 	 	 	 
	12	 	MISCELLANEOUS PROVISIONS	 	23
	 	 	 	 	 
	13	 	SEVERABILITY	 	23

 

	Exhibit A - Appendix 1	REDACTED*
	 	 
	Exhibit A - Appendix 2	REDACTED*
	 	 
	Exhibit A-4	REDACTED*
	 	 
	Appendix 1 to Exhibit A-4	REDACTED*

 

	Exhibit B	Price Revision Formula
	 	Part 1: NEO Airframe Price Revision Formula
	 	 
	Exhibit C	Amended and restated Letter Agreement No. 6 to Amendment No. 11

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 4 of 53

    

    

 

		1.	RESCHEDULING

 

		1.1	The Parties hereby agree to reschedule the scheduled delivery period of REDACTED*

 

REDACTED*

 

REDACTED* (the “Rescheduled
NEO Aircraft”) and to schedule the delivery of such NEO Aircraft in accordance with the following revised scheduled delivery
period (the “Revised Scheduled Delivery Period”):

 

	Rank Number	 	
    NEO

    Aircraft Type
	 	
    Original Scheduled Delivery 

Month or Quarter

    (as defined in
    Amendment No. 26)
	 	Revised Scheduled 

Delivery Period
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

REDACTED*

 

		1.2	Propulsion Systems Manufacturer and BFE Suppliers

 

The Buyer shall remain solely responsible for
notifying the rescheduling set out above to the NEO Propulsion Systems manufacturer and BFE suppliers, pursuant to the Buyer’s obligations
under the relevant agreements between the Buyer and such NEO Propulsion Systems manufacturer and BFE suppliers.

 

		2.	INCREMENTAL ORDER

 

		2.1	Scope

 

		2.1.1	Sale and Purchase: pursuant to and in accordance with the terms and conditions contained in this
                                                                                 Amendment No. 27 (and incorporating the relevant provisions of the A320/A330 Purchase Agreement), the Seller shall sell and deliver
                                                                                 and the Buyer shall buy and take delivery of REDACTED* being REDACTED* REDACTED* (the “2021 Incremental A320
                                                                                 NEO Aircraft”), REDACTED* REDACTED* (the “2021 Incremental A321 NEO Aircraft”) REDACTED*
                                                                                 REDACTED* (hereinafter individually or collectively referred to as the “2021 Incremental NEO Aircraft”).

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

  

    Page 5 of 53

    

    

 

		2.1.2	Amendment of Existing Provisions: The Buyer and the Seller agree to amend certain provisions of the Agreement
pursuant to the terms and conditions set out in this Amendment N°27.

 

		2.1.3	With effect from the date hereof, all references to “Aircraft”, “NEO Aircraft”,
“A320 NEO Family Aircraft” and “2011 A320 NEO Family Aircraft” in the Agreement shall include reference to the
2021 Incremental NEO Aircraft unless expressly stipulated otherwise herein or elsewhere.

 

		2.1.4	Save to the extent specified to the contrary in this Amendment No. 27, all of the terms and
                                                               conditions respectively relating to A320 NEO Aircraft and A321 NEO Aircraft set out in the Agreement and its Exhibits and Appendices
                                                               shall apply to the 2021 Incremental A320 NEO Aircraft and 2021 Incremental A321 NEO Aircraft unless expressly stipulated otherwise
                                                               herein or elsewhere.

 

		2.1.5	Applicability of Letter Agreements

 

 

 

 

		2.1.5.1	REDACTED*

 

 

 

 

		2.1.5.2	REDACTED*

 

 

 

 

		2.1.5.3	REDACTED*

 

 

 

 

		2.1.5.4	REDACTED*

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 6 of 53

    

    

 

		2.1.5.5	REDACTED*

 

 

 

 

		2.1.5.6	REDACTED*

 

 

 

 

		2.2	Definitions and Interpretations

 

The parties hereby agree to either insert in alphabetical
order or amend and restate, as the case may be, the following definitions in Clause 0.1 of the A320/A330 Purchase Agreement:

 

A320 NEO Family Aircraft or NEO
Aircraft means, as applicable, any or all of the A319 NEO Aircraft, any or all of the A320 NEO Aircraft, any or all of the A321
NEO Aircraft, REDACTED*

 

REDACTED*

 

 

 

 

REDACTED*

 

Aircraft means individually or collectively an Airbus
A319 Aircraft, A320 Aircraft,A321 Aircraft, A330-200 Aircraft, A320 NEO Aircraft, A321NEO Aircraft, REDACTED* REDACTED* delivered
under this Agreement, including the Airframe, the Propulsion Systems, and any part, component, furnishing or equipment installed on the
Aircraft upon Delivery.

 

Goods and Services means any goods and services that
may be purchased by the Buyer from the Seller, excluding Aircraft.

 

NEO Standard Specification means individually or collectively
the A319 NEO Standard Specification, the A320 NEO Standard Specification, the A321 NEO Standard Specification REDACTED*, as applicable.

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 7 of 53

    

    

 

		2.3.	Specification

 

		2.3.1	NEO Propulsion Systems

 

In respect of any NEO Aircraft, Clause 2.3.1 of the Agreement (as amended
from time to time) shall be deleted and replaced by the following quoted text:

 

QUOTE

 

		2.3.1	Each Airframe of the A320 NEO Family Aircraft shall be equipped
with a set of either two (2) CFM LEAP-1A engines or two (2) International Aero Engines, LLC (“IAE LLC”) PW1100G-JM
engines, upon selection referred to respectively as the “NEO Propulsion Systems”.

 

	 	 	IAE LLC	 	CFM
	A319-100 NEO	 	
    PW1124G-JM

    REDACTED*
	 	
    LEAP-1A24

    REDACTED*

	 	 	 	 	 
	A320-200 NEO	 	PW1127G-JM	 	LEAP-1A26
	 	 	REDACTED*	 	REDACTED*
	 	 	 	 	 
	 	 	or	 	 
	 	 	 	 	 
	 	 	PW1129G-JM	 	 
	 	 	REDACTED*	 	 
	 	 	 	 	 
	A321-200 NEO	 	
    PW1133G-JM

    REDACTED*
	 	
    LEAP-1A32

    REDACTED*

	 	 	 	 	 
	REDACTED*	 	REDACTED*	 	REDACTED*

 

REDACTED*

 

The Parties agree that, in respect
of any NEO Aircraft, any notification received by the Seller from the Buyer prior to the date hereof in relation to the
Buyer’s choice of the NEO Propulsion Systems for such NEO Aircraft shall become null and void on the date of Amendment No. 27.
The Buyer shall provide written notice to the Seller of its choice of Propulsion Systems for such NEO Aircraft no later than
fourteenREDACTED* prior to the first day of the Scheduled Delivery Month of such NEO Aircraft. REDACTED* REDACTED*

 

UNQUOTE

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 8 of 53

    

    

 

		2.3.2	REDACTED*

 

		2.4	Pricing

 

With respect to 2021 Incremental NEO Aircraft
only, the provisions contained in Clauses 3.1.1 and 3.1.2 of the Agreement shall not apply and the following quoted provisions shall apply
in their place:

 

QUOTE

 

		3.1.1	NEO Airframe Basic Price

 

The NEO Airframe Basic Price (the “NEO Airframe Basic Price
”) for the 2021 Incremental NEO Aircraft is the sum of:

 

		(i)	the basic price of the NEO Airframe as defined in the relevant
NEO Standard Specification, including Nacelles and Thrust Reversers, and excluding Buyer Furnished Equipment, which is:

 

For the A320 NEO Aircraft: REDACTED*
REDACTED*

 

For the A321 NEO Aircraft: REDACTED* REDACTED* 

 

REDACTED* REDACTED* REDACTED*

 

		(ii)	the base price of the SCN’s as listed in Appendices 1 and 2 of Exhibit A of this Amendment No.
                                                              27 with respect to the A320 NEO Aircraft and the A321 NEO Aircraft, and in Appendix 1 of Exhibit A-4 of this Amendment No. 27 with
                                                              respect to the REDACTED* , which is:

 

  

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 9 of 53

    

    

 

For the A321 NEO Aircraft: REDACTED*

 

For the A321 NEO Aircraft: REDACTED*

 

REDACTED*

 

		(iii)	the base price of the master charge, which is applicable if a CFM LEAP-1A NEO Propulsion System is selected, which is:

 

REDACTED*

 

All respective NEO Airframe Basic Prices have been established in accordance
with the average economic conditions prevailing in REDACTED* delivery in REDACTED* REDACTED* and corresponding to a theoretical
(the “Base Period”).

 

		3.1.2	NEO Propulsion Systems Basic Price

 

The basic price of the NEO Propulsion Systems
(the “NEO Propulsion Systems Basic Price ”) shall, depending on the NEO Propulsion Systems selected by the Buyer, be
as applicable pursuant to Clauses 3.1.2.1 or 3.1.2.2.

 

		3.1.2.1	The base price of a set of two (2) CFM INTERNATIONAL Propulsion Systems is:

 

LEAP-1A26:        REDACTED*        for A320 NEO Aircraft

 

LEAP-1A32:        REDACTED*        for A321 NEO Aircraft

 

REDACTED*     REDACTED*
       REDACTED*

 

The NEO Propulsion Systems Basic Prices have been established in accordance
with the delivery conditions prevailing in REDACTED* and have been computed from the Propulsion Systems Reference Price REDACTED*
REDACTED*

 

		3.1.2.2	The base price for a set of two (2) IAE LLC Propulsion Systems is:

 

PW1127G-JM:        REDACTED*         for A320 NEO Aircraft

 

PW1129G-JM:        REDACTED*         for
A320 NEO Aircraft

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 10 of 53

    

    

 

The NEO Propulsion Systems Basic Prices have been calculated in accordance
with the delivery conditions prevailing in REDACTED*and have been computed from the Propulsion Systems Reference Price REDACTED*
REDACTED*

 

UNQUOTE

  

PW1133G-JM:          REDACTED*         for
A321 NEO Aircraft

 

REDACTED*          REDACTED*        REDACTED*

 

The NEO Propulsion Systems Basic Prices
have been calculated in accordance with the delivery conditions prevailing REDACTED* in and have been computed from the Propulsion
Systems Reference Price REDACTED*

REDACTED*

 

UNQUOTE

 

		2.5	Delivery Schedule

 

The
2021 Incremental NEO Aircraft shall have the assigned rank numbers REDACTED* REDACTED* and shall be added to the A319/A320/A321
delivery schedule (as set forth in Clause 9.1.1.1 of the A320/A330 Purchase Agreement as amended from time to time) in accordance with
the following:

 

	Aircraft
    Rank	Aircraft
    Type	Delivery
    Quarter

 

REDACTED*

 

 

 

		*	All
                                            text marked “REDACTED*” is Redacted Per Amended Standing Order Regarding Redaction Dated February
                                            2, 2021.

 

    Page 11 of 53

    

    

 

		3.	DELIVERY SCHEDULE

 

As a result of the rescheduling and
incremental order set forth respectively in Clauses 1 and 2 hereof, the A319 / A320 / A321 REDACTED*
delivery schedule set out in Clause 9.1.1.1 of the Agreement (as amended from time to time) is hereby amended and restated as follows:

 

QUOTE

 

9.1.1.1 A319 / A320 / A321 / REDACTED* Aircraft

 

	Aircraft Rank

REDACTED*	 	Aircraft 

Type	 	
    Delivery

    Month/Quarter
	 	REDACTED*
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

  

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 12 of 53

    

    

 

	REDACTED*	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 13 of 53

    

    

 

	 	 	 	 	 	 	REDACTED*
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 14 of 53

    

    

 

	 	 	 	 	 	 	REDACTED*
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 15 of 53

    

    

 

	 	 	 	 	 	 	REDACTED*
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

Each of the above delivery quarters shall respectively
be, with respect to the corresponding Aircraft, the “Scheduled Delivery Quarter”.

 

The Seller shall inform the Buyer in
writing of the Scheduled Delivery Month during which the Aircraft shall be Ready for Delivery no later than REDACTED* prior to
the first (1st) day of the Scheduled Delivery Quarter of such Aircraft.

 

For the purposes of Clause 5.3 of
the Agreement and Clauses 2.2.1 and 2.2.2 of Letter Agreement No. 3 to Amendment No. 11 (as amended from time to time), until the
Scheduled Delivery Month has been notifiedby the Seller to the Buyer pursuant to Clause 9.1.1, the Scheduled Delivery Month shall be
deemed to be the middle month of the relevant Scheduled Delivery Quarter.

 

For the purposes of Clause 5.3 of the Agreement,
until the NEO Propulsion Systems have been notified by the Buyer to the Seller pursuant to Clause 2.3, the NEO Propulsion Systems shall
be deemed to be REDACTED*

 

UNQUOTE

 

		4.	PREDELIVERY PAYMENTS

 

		4.1	Rescheduled NEO Aircraft Predelivery Payments

 

As a consequence of the rescheduling set
forth in Clause 1 herein, in respect of each Rescheduled NEO Aircraft, the Predelivery Payment Reference Price and the Predelivery
Payment schedule shall be adjusted pursuant to Clauses 5.3.1 and 5.3.2 of the Agreement (as amended from time to time) respectively
to reflect the Revised Scheduled Delivery Period of such Rescheduled NEO Aircraft.

 

The Seller has received from the Buyer
on or prior to the date hereof Predelivery Payments for a total amount equal to REDACTED* under the Agreement (the “PDP
Amount”). REDACTED*

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 16 of 53

    

    

 

		4.2	2021 Incremental NEO Aircraft Predelivery Payments

 

		4.2.1	Solely with respect to the 2021 Incremental NEO Aircraft, Clause 5.2 of the Agreement, as amended by Clauses
2.1 of Letter Agreement No.3 to Amendment No.11, is hereby deleted in its entirety.

 

		4.2.2	REDACTED*

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

UNQUOTE

 

		4.2.3	For the sole purpose of calculating the applicable Predelivery Payment Reference Price, Clause 5.3.1 of
the Agreement, as amended by Clause 2.2.1 of Letter Agreement No.3 to Amendment No.11 (Clause 3.1 of the A320/A330 Purchase Agreement
being amended by Clause 3.1 of Amendment No.23 to the Agreement), shall apply to the 2021 Incremental A320 NEO Aircraft and the 2021 Incremental
A321 NEO Aircraft.

 

		4.2.4	Solely with respect to the 2021 Incremental NEO Aircraft, Clause 5.3.2 of the Agreement, as amended by
Clause 2.2.1 of Letter Agreement No.3 to Amendment No.11, is hereby deleted in its entirety and replaced with the following quoted text:

 

QUOTE

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 17 of 53

    

    

 

		5.3.2	Such Predelivery Payments shall be made in accordance with the following schedule:

 

	DUE DATE OF PAYMENTS	PERCENTAGE OF PREDELIVERY PAYMENT REFERENCE PRICE

 

REDACTED*

 

 

 

 

	 	 	 	 
		Total Payment prior to Delivery	 	REDACTED*

 

UNQUOTE

 

		4.2.5	Pursuant to Clause 1 of Amendment No.18 to the Agreement and to Clause 3 of Amendment No.2 to the LAN
A320 Agreement (as defined in Clause 6.3.1 herebelow), the Buyer hereby instructs the Seller to REDACTED*

  

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

		5.	PRICE REVISION PROTECTION

 

		5.1	Rescheduled NEO Aircraft

 

In respect of each Rescheduled NEO Aircraft, Clauses
1.1 and 1.2 of Letter Agreement No.3 to Amendment No.11 (as amended by Clause 7 of Amendment No.26) shall be hereby deleted in their entirety
and replaced by the following quoted provisions:

 

QUOTE

 

		1.1	Escalation Cap

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 18 of 53

    

    

 

		1.1.1	In addition to Clause 4 of the A320/A330 Purchase Agreement,
with respect to each NEO Aircraft, during the period starting on REDACTED* and ending on REDACTED* the NEO Airframe Basic
Price(increased or decreased, as the case may be, by the amounts relating to any SCNs executed after the date of the Agreement) and all
applicable credit memoranda granted by the Seller under the Agreement and subject to revision in accordance with the Airframe Price Revision
Formula REDACTED*

 

		(i)	in accordance with Clause 4 of the A320/A330 Purchase Agreement for the period starting on               REDACTED* and ending on              REDACTED*  

 

 

 

 

 

REDACTED*

 

or

 

		(ii)	if lower, by the amount determined by escalating the NEO Airframe Basic Price and the applicable credit memoranda for the period starting
on REDACTED*ending on REDACTED*

 

 

 

 

 

		1.1.2	In addition to Clause 4 of the A320/A330 Purchase Agreement, with respect to each NEO Aircraft, during the period starting on REDACTED*
and ending on REDACTED*the NEO Airframe Basic Price (increased or decreased, as the case may be, by the amounts relating to
any SCNs executed after the date of the Agreement) and all applicable credit memoranda granted by the Seller under the Agreement and subject
to revision in accordance with the Airframe Price Revision Formula REDACTED* shall be escalated either:

 

		(i)	in accordance with Clause 4 of the A320/A330 Purchase Agreement for the period starting on REDACTED* and ending on REDACTED*

 

or

 

		(ii)	if lower, by the amount determined by escalating the NEO Airframe Basic Price and the applicable credit memoranda for the period starting
on the REDACTED* and ending on REDACTED*

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 19 of 53

    

    

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		1.1.3	REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Page 20 of 53

    

    

 

		1.2	REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		5.2	2021 Incremental NEO Aircraft

 

In respect of each 2021 Incremental NEO Aircraft,
Clauses 1.1 and 1.2 of Letter Agreement No.3 to Amendment No.11 (as amended by Clause 7 of Amendment No.26) shall be hereby deleted in
its entirety and replaced by the following quoted provisions:

 

QUOTE

 

		1.1	Escalation Cap

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 21 of 53

    

    

 

		1.1.1	In addition to Clause 4 of the A320/A330 Purchase Agreement, with respect to each 2021 Incremental NEO
Aircraft, during the period starting on REDACTED* and ending on REDACTED* the NEO Airframe Basic Price (increased or decreased,
as the case may be, by the amounts relating to any SCNs executed after the date of this Amendment No.27) and all applicable credit memoranda
granted by the Seller under the Agreement and subject to revision in accordance with the Airframe Price Revision Formula REDACTED*
shall beescalated either:

 

		(i)	in accordance with Clause 4 of the A320/A330 Purchase Agreement for the period starting on REDACTED*
and ending on REDACTED*

 

or

 

		(ii)	if lower, by the amount determined by escalating the NEO Airframe Basic Price and the applicable credit
memoranda for the period starting on REDACTED* and ending on REDACTED* REDACTED*

 

		1.1.2	REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 22 of 53

    

    

 

REDACTED*

 

 

 

 

 

		1.2	Escalation Sharing

 

REDACTED*

 

 

 

 

UNQUOTE

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 23 of 53

    

    

 

		6.	ADDITIONAL CONCESSIONS

 

		6.1	Global Restructuring Goods and Services Credit Memorandum

 

Remaining NEO Aircraft means any REDACTED* Aircraft remaining
to be delivered under the Agreement at the time hereof or any REDACTED* remaining to be delivered under the LAN A320 Agreement
at the time hereof.

 

In consideration of the rescheduling set out in
Clause 1 hereof and in order to support the introduction into service and operation of the NEO Aircraft, and subject to the Buyer taking
delivery of REDACTED* Aircraft, the Seller shall grant to the Buyer, in respect of each NEO Aircraft, on REDACTED* a goods
and services credit memorandum (the “Global Restructuring Goods and Services Credit Memorandum”) amounting to:

 

REDACTED* for each A320 NEO Aircraft

REDACTED*

 

REDACTED* for each A321 NEO Aircraft

REDACTED*

 

REDACTED*

 

The Global Restructuring Goods and Services Credit
Memorandum is quoted in US Dollars expressed in economic conditions corresponding to a theoretical delivery in REDACTED* and shall
be subject to revision up to and including the date on which such credit is granted in accordance with:

 

(i) in respect of the Rescheduled NEO Aircraft,
the Airframe Price Revision Formula REDACTED* it being understood and agreed that the escalation cap set out therein shall apply
to the Global Restructuring Goods and Services Credit Memorandum for the period starting on REDACTED* and ending on REDACT

 

or

 

(ii)  in
respect of the 2021 Incremental NEO Aircraft, REDACTED* t being understood and agreed that the escalation cap set out therein shall
apply to the Global Restructuring Goods and Services Credit Memorandum for the period starting on REDACTED* and ending on REDACTED*

 

The Global Restructuring Goods and Services Credit Memorandum shall
be used exclusively for the purchase by the Buyer of Goods and Services from the Seller. REDACTED*

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 24 of 53

    

    

 

 

		REDACTED*	

 

 

 

 

		REDACTED*	

 

 

 

 

 

 

 

 

 

 

 

		6.2	SCN Credit Memorandum

 

For each NEO Aircraft, REDACTED* the SCNs for an aggregate amount
equal to or in excess of REDACTED in REDACTED* delivery conditions with respect to an A320 NEO Aircraft, REDACTED* in
REDACTED* delivery conditions with respect to an A321 NEO Aircraft, REDACTED* the Seller shall grant the Buyer, REDACTED*
a SCN credit memorandum (hereinafter the “SCN Credit Memorandum”) for an amount of:

 

REDACTED* for an A320 NEO Aircraft

REDACTED*

 

REDACTED* for an A321 NEO Aircraft

REDACTED*

 

REDACTED*

 

The SCN Credit Memorandum is quoted in US Dollars expressed in economic
conditions corresponding to a theoretical delivery in REDACTED*and shall be subject to revision up to REDACTED* in accordance
in accordance with:

 

		(i)	in respect of the Rescheduled NEO Aircraft, REDACTED*

 

or

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 25 of 53

    

    

 

		(ii)	in respect of the 2021 Incremental NEO Aircraft, REDACTED*

 

The SCN Credit Memorandum shall be applied against
the Final Price of the respective NEO Aircraft.

 

		6.3	Special A321 NEO Goods and Services Credit Memorandum

 

		6.3.1	For the purpose of this Amendment No.27, the following term
shall have the meaning ascribed to it:

 

LAN A320 Agreement means the A320 Family
Purchase Agreement entered into on 22 June 2011 between the Buyer and the Seller, with reference CT1101195, as amended from time to time.

 

		6.3.2	In consideration of the rescheduling set out in Clause 1 herein
and the incremental sale and purchase of the 2021 Incremental NEO Aircraft set out in Clause 2 herein, the Seller shall grant to the
Buyer a Special A321 NEO Goods & Services Credit Memorandum (the “Special A321 NEO G&S Credit Memorandum”)
in a fixed amount equal to:

 

REDACTED*

 

 

 

 

 

The Special A321 NEO G&S Credit Memorandum
shall be made available by the Seller to the Buyer in several portions, each portion being granted starting on 01 June 2022 as follows:

 

REDACTED*

 

 

 

 

 

The Special A321 NEO G&S Credit Memorandum
shall be exclusively used for the purchase of Goods and Services from the Seller and shall not be subject to any revision.

 

The Special A321 NEO G&S Credit Memorandum
shall be earned at REDACTED*

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 26 of 53

    

    

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 27 of 53

    

    

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 28 of 53

    

    

 

REDACTED*

 

 

 

 

 

 

 

 

 

		7.	BFE PROVISION

 

Clause 4 of Letter Agreement No.11 to the A320/A330 Purchase Agreement
is hereby deleted in its entirety and replaced with the following quoted text:

 

QUOTE

 

		4.	BFE

 

REDACTED*

 

 

 

 

UNQUOTE

 

		7B.	Each of the Buyer and the Seller hereby agrees that the letter
agreement no.6 dated 11 October 2011 to the Amendment No.11 shall be amended and restated in the form set out in Exhibit C hereto.

 

		8.	WAIVER

 

		8.1	Upon the effectiveness of this Amendment No.27, the Seller waives,
discharges and releases the Buyer from any liability whatsoever for or as a result of, and all rights and remedies of the Seller in connection
with any non-performed obligation or delay in payment by the Buyer of any payments due and owing by the Buyer to the Seller on or before
the effective date of this Amendment No.27 in accordance with the Agreement, including, but not limited to, any interest that Seller
may claim or has claimed to have been due as a result of such non-performed obligation or delay in payment and any rights or remedies
of the Seller attributable to any claim that the Buyer is or was in default or breach of the Agreement or any other agreements between
the Buyer and the Seller by reason of any such non- performed obligation or delay in payment under the Agreement. Nothing herein shall
be construed as an admission by the Buyer as to any default in or breach of any such agreements or default or delay in any such payment,
or the accrual or any liability of the Buyer for any such interest.

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 29 of 53

    

    

 

		8.2	The Seller and the Buyer acknowledge and agree that no cure, monetary or otherwise, shall be necessary
to assume the Agreement, as amended by this Amendment No.27, pursuant to 11 U.S.C. §365, nor shall the Seller be entitled to any
payment of cure costs in connection with such assumption.

 

		8.3	The Buyer hereby irrevocably waives any and all rights it may have under the provisions of Clause 10 (Excusable
Delay) and Clause 11 (Non Excusable Delay) of the Agreement or at law up to the date hereof with respect to any NEO Aircraft remaining
to be delivered under the Agreement. The Parties agree that the provisions of Clause 10 (Excusable Delay) and Clause 11 (Non-Excusable
Delay) of the Agreement (as amended from time to time) will continue to apply from the date hereof to any delays in Delivery of the NEO
Aircraft that are caused by respectively an Excusable Delay or Non-Excusable Delay and that result in the NEO Aircraft being delivered
later than the dates indicated for such Aircraft in Clause 9.1.1 of the Agreement (as amended by this Amendment No.27). Liquidated damages
paid by the Seller to the Buyer towards the liquidated damages caps referenced in the Agreement shall be deemed to be zero in respect
of any NEO Aircraft remaining to be delivered under the Agreement.

 

		9.	CONDITION PRECEDENT

 

The Seller and the Buyer hereby agree that it
shall be a condition precedent to the effectiveness of this Amendment No.27 that the Bankruptcy Court shall have entered an order in form
and substance acceptable to the Buyer and the Seller (i) approving this Amendment No.27; (ii) authorizing the Buyer and Piquero, as applicable,
to enter into and perform under the Amendment Documents, the PDP Financing Documents, the Termination Agreement and the Assignment, Assumption
and Release Amendment Agreement and to assume the Assumed Purchase Agreements, as amended; (iii) providing that the obligations of the
Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended, the Termination Agreement, the Piquero Guarantee
and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative expense claims in the Case pursuant to
section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under the Piquero Guarantee shall be binding
upon and constitute obligations of the reorganized debtors or their successors.

 

In this Clause 9:

 

Amendment n°1 means the amendment agreement
to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

    Page 30 of 53

    

    

 

Amendment n°9 means the amendment agreement
to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°18 means the amendment
agreement to the Purchase Agreement 2 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means the Amendment
n°1, the Amendment n°9, the Amendment n°18, the Purchase Agreement 1 Letter Agreement and the Purchase Agreement 2 Letter
Agreements.

 

Assignment, Assumption and Release Amendment
Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between the Buyer, the
Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer, the Seller and
Piquero.

 

Assumed Purchase Agreements means the Agreement,
the Purchase Agreement 1, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed (as amended).

 

Consent Agreement Supplement means the
consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and Banco Santander, S.A. in relation
to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent Agreement Supplement
and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

 

Piquero Guarantee means the guarantee and
indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter alia, the obligations of Piquero under
the Piquero Purchase Agreement.

 

Piquero Purchase Agreement means the Agreement
(excluding any letter agreement relating thereto) as assigned, assumed and released pursuant to the Assignment, Assumption and Release
Amendment Agreement.

 

Purchase Agreement 1 means the LAN A320 Agreement.

 

Purchase Agreement 1 Letter Agreement means
the letter agreement n°1 to the Amendment n°9.

 

Purchase Agreement 2 means the Agreement.

 

Purchase Agreement 2 Letter Agreements means
the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the letter agreement n°4, the letter agreement
n°5, the letter agreement n°6, the letter agreement n°8D and the letter agreement n°9D to this Amendment No.27.

 

    Page 31 of 53

    

    

 

Purchase Agreement 3 means the Airbus A320
family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer, as amended and supplemented from time
to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to time relating
thereto).

 

Termination Agreement means the A350XWB
termination agreement to be entered into between the Seller and the Buyer.

  

		10.	CONFIDENTIALITY

 

The Parties hereby acknowledge and agree that
this Amendment No.27 is subject to the confidentiality provisions set forth in clause 22.10 of the Agreement, except that the Buyer may
disclose a copy of this Amendment No.27 (i) to the Bankruptcy Court to the extent necessary to obtain approval of this Amendment No.27
and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured Creditors, (b) that certain Ad Hoc Group
of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the extent the Buyer files this Amendment No.27
with the Bankruptcy Court, the Buyer shall seek to file this Amendment No.27 and the Agreement, along with any related filings, under
seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”) entered by the Bankruptcy Court
in the Chapter 11 Cases at Docket No. 1810.

 

		11.	LAW AND JURISDICTION

 

This Amendment No.27 shall be governed by and
construed in accordance with the laws of England. Any dispute arising out of or in connection with this Amendment No.27 shall be within
the exclusive jurisdiction of the Courts of England except that subject to the last sentence of this Clause 11 and during the pendency
of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court shall have
exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn,
or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S. District Court for the Southern District of New
York or the state court of the State of New York located in New York County, New York.

 

Subject to the last sentence of this Clause 11,
the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of the Chapter 11 Cases for the period
prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the extent the Bankruptcy Court abstains, reference
to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have subject matter jurisdiction, then to the
U.S. District Court for the Southern District of New York or the state court of the State of New York located in New York County, New
York, and (ii) thereafter, the Courts of England.

 

For the avoidance of doubt,
nothing in this Clause 11 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain from hearingor
otherwise transfer a dispute arising under this Amendment No.27 or to argue that the Bankruptcy Court does not have statutory
authority to adjudicate disputes arising under this Amendment No.27, nor any Party’s defenses in respect of any such request
or argument.

 

    Page 32 of 53

    

    

 

		12.	MISCELLANEOUS PROVISIONS

 

		12.1	This Amendment No.27 contains the entire agreement between the
Parties with respect to the subject matter hereof and supersedes any previous understandings, commitments or representations whatsoever
oral or written with respect to the matters referred to herein. This Amendment No.27 shall not be varied except by an instrument in writing
of date even herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

		12.2	The Agreement between the Seller and the Buyer shall be deemed
amended to the extent herein provided and shall continue in full force and effect in accordance with its original terms as may be amended
hereby.

 

		12.3	The Parties agree that this Amendment No.27 shall constitute an integral, non- severable part of the Agreement
and be governed by all of its provisions.

 

		12.4	In the event of any inconsistency between the Agreement and this Amendment No.27, the latter shall prevail
to the extent of said inconsistency.

 

		12.5	This Amendment No.27 may be signed by the Parties hereto in separate counterparts, each of which when
so signed and delivered will be an original, but all such counterparts will together constitute but one and the same instrument.

 

		13.	SEVERABILITY

 

In the event that any provision of this Amendment
No.27 should for any reason be held ineffective, the remainder of this Amendment No.27 shall remain in full force and effect. To the extent
permitted by applicable law, each Party hereto hereby waives any provision of law which renders any provision of this Amendment No.27
prohibited or unenforceable in any respect. If any provisions of this Amendment No.27 prove to be or become, illegal, invalid or unenforceable
in whole or in part, the Parties will endeavour to give effect to it in such a way to avoid such illegality, invalidity or unenforceability.

  

    Page 33 of 53

    

    

 

This Amendment No.27 has been executed in two (2) original specimens
which are in English.

 

IN WITNESS WHEREOF this Amendment No.27 to the Agreement was
duly entered into the day and year first above written.

 

	For and on behalf of	 	For and on behalf of
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.

 

	Name:	 	 	Name:	REDACTED*
	 	 	 	 	 
	Title:	 	 	Title:	REDACTED*

 

LATAM AIRLINES GROUP S.A.

 

	Name:	 	 
	 	 	 
	Title:	 	 

 

 

 

		*	All
                                            text marked “REDACTED*” is Redacted Per Amended Standing Order Regarding Redaction Dated February
                                            2, 2021.

 

    Page 34 of 53

    

    

 

EXHIBIT A - Appendix 1

 

EXHIBIT A -Appendix1

 

REDACTED*

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 35 of 53

    

    

 

EXHIBIT A - Appendix 1

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 36 of 53

    

    

 

EXHIBIT A - Appendix 1

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 37 of 53

    

    

 

EXHIBIT A - Appendix 1

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 38 of 53

    

    

 

EXHIBIT A - Appendix 2

 

EXHIBIT A -Appendix 2

 

REDACTED*

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 39 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 40 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 41 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 42 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 43 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 44 of 53

    

    

 

EXHIBIT A - Appendix 2

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 45 of 53

    

    

 

EXHIBIT A-4

EXHIBIT A-4

 

A321XLR Specification

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 46 of 53

    

    

 

EXHIBIT A-4

 

REDACTED*

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 47 of 53

    

    

 

EXHIBIT A-4

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 48 of 53

    

    

 

EXHIBIT A-4

 

REDACTED*

 

REDACTED*

 

 

 

 

 

		*	All text marked “REDACTED*”
                                            is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 49 of 53

    

    

 

EXHIBIT B

 

PRICE REVISION FORMULA

 

With respect to the 2021 Incremental NEO Aircraft
only, the Airframe Price Revision Formula contained in REDACTED* the A320/A330 Purchase Agreement is hereby cancelled and replaced
by the following quoted text:

 

QUOTE

 

PART 1 AIRFRAME PRICE REVISION FORMULA

 

		1.	BASE PRICE

 

The Airframe Base Price quoted in Clause 3.1 of
this Agreement, and all other amounts expressed in this Agreement as being subject to this Airbus Price Revision Formula (each a “Base
Price”), are subject to adjustment for changes in economic conditions as measured by REDACTED* and in accordance with
the provisions hereof.

 

		2.	BASE PERIOD

 

REDACTED*

 

		3.	INDEXES

 

REDACTED*

 

REDACTED*

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 50 of 53

    

    

 

EXHIBIT B

 

		4.	REVISION FORMULA

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

		5.	GENERAL PROVISIONS

 

		5.1	Roundings

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

    Page 51 of 53

    

    

 

		5.2	REDACTED*

 

REDACTED*

 

		5.3	Final Index Values

 

The Index values as defined in Clause 4 above
shall be considered final and no further adjustment to the Base Prices as revised at Delivery of an Aircraft shall be made after Delivery
of an Aircraft for any subsequent changes in the published Index values.

 

		5.4	Limitation

 

REDACTED*

 

UNQUOTE

 

 

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 52 of 53

    

    

 

EXHIBIT C

 

Amended and Restated Letter Agreement No.6 to
Amendment No.11

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    Page 53 of 53

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

 

 

 

LATAM AIRLINES GROUP S.A.

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th Floor

Las Condes

Santiago

Chile

 

	Subject:	REDACTED*	- PURCHASE INCENTIVES

 

LATAM AIRLINES GROUP S.A. (the “Buyer”)
and AIRBUS S.A.S. (the “Seller”) have entered on December 21, 2018 into an Amendment No.26 (the “Amendment No.26”),
and as of even date hereof into Amendment No.27 (the “Amendment No.27”) to the A320/A330 Purchase Agreement dated November
14,2006, as amended from time to time (the “Agreement”), covering the manufacture and the sale, among others, by the
Seller and the purchase by the Buyer of the 2021 Incremental NEO Aircraft.

 

Capitalized terms used herein and not otherwise
defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both parties agree that this Letter Agreement,
upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27 and shall be governed by all its provisions,
as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In the event of any conflict between the terms
of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits and appendices thereto), the terms of this
Letter Agreement shall prevail.

 

     Page 1/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

REDACTED*

 

		1	REDACTED*

 

		1.1	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED*

 

REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED*

 

REDACTED* shall be subject to revision REDACTED* REDACTED*Price
Revision Formula REDACTED* in accordance with the Airframe REDACTED*

 

		1.2	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED* 

 

REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions
prevailing for a theoretical Delivery in January 2021 REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

REDACTED*

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 2/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27 

 

		1.3	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED* 

 

REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

REDACTED*

 

		1.4	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED* 

 

REDACTED*

 

REDACTED*

 

     Page 3/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

REDACTED*is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED*

 

REDACTED* shall be subject to revision REDACTED* REDACTED*
in accordance with the Airframe Price Revision Formula REDACTED*

 

REDACTED*

 

		1.5	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED*

 

REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED*

 

REDACTED*shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

		1.6	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED*

 

REDACTED* shall be applied against the Final Price of the respective
2021 Incremental NEO Aircraft.

 

The REDACTED* shall be subject to revision REDACTED* 

 

REDACTED* in accordance with the Airframe
Price Revision Formula REDACTED*

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 4/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

		1.7	REDACTED*

 

The Seller shall grant the Buyer, REDACTED* 

 

REDACTED*

 

REDACTED* shall be applied REDACTED*

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

REDACTED*

 

		1.8	REDACTED*

 

The Seller shall grant the Buyer, REDACTED* 

 

REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied REDACTED*

 

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe
Price Revision Formula REDACTED* 

 

     Page 5/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

		1.9	REDACTED*

 

The Seller
shall grant the Buyer, REDACTED*

 

REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied REDACTED*

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the REDACTED*

 

Airframe Price Revision Formula
REDACTED*

 

		1.10	REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied REDACTED*

 

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

REDACTED*

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 6/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

		1.11	REDACTED*

 

The Seller shall grant the Buyer, amounts: REDACTED*

REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

    REDACTED* shall be applied REDACTED*

REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

 

REDACTED*

 

		1.12	REDACTED*

REDACTED*

 

		2.1	REDACTED*

 

The Seller shall grant the Buyer, REDACTED*

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied
REDACTED*

 

REDACTED*

 

REDACTED*shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 7/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

Price Revision Formula REDACTED*

REDACTED*

 

		2.2	REDACTED*

 

The Seller shall grant the Buyer, REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied REDACTED*

 

REDACTED*.

 

REDACTED* shall be subject to revision REDACTED*

 

REDACTED* in accordance with the Airframe Price Revision Formula
REDACTED*

 

		2.3	REDACTED*

 

The Seller shall grant to the Buyer, REDACTED*

 

REDACTED*

 

REDACTED* is expressed in economic conditions prevailing for
a theoretical delivery in January 2021.

 

REDACTED* shall be applied REDACTED*

 

REDACTED* shall be subject to revision REDACTED*

REDACTED* in accordance with the Airframe
Price Revision Formula REDACTED*

 

		3.	Condition Precedent

 

The Seller and the Buyer hereby agree
that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy Court shall have entered an
order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii) authorizing the Buyer and
Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents, the Termination Agreement
and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements, as amended; (iii) providing
that the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended, the Termination Agreement,
the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative expense claims in
the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under the Piquero Guarantee
shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 8/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

In this Clause 3:

 

Amendment n°1 means the amendment agreement
to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

Amendment n°9 means the amendment agreement
to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°18 means the amendment
agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means the Amendment
n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement 1 Letter Agreement and the Purchase
Agreement 2 Letter Agreements.

 

Assignment, Assumption and Release Amendment
Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between the Buyer, the
Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer, the Seller and
Piquero.

 

Assumed Purchase Agreements means the Purchase
Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed (as amended).

 

Consent Agreement
Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and Banco
Santander, S.A. in relation to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent Agreement Supplement
and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

 

Piquero Guarantee means the guarantee and
indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter alia, the obligations of Piquero under
the Piquero Purchase Agreement.

 

Piquero Purchase Agreement means the Purchase
Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released pursuant to the Assignment, Assumption
and Release Amendment Agreement.

 

Purchase Agreement 1 means the Airbus A320
family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller, and as amended and supplemented from time
to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to time relating
thereto).

 

Purchase Agreement 1 Letter Agreement means
the letter agreement n°1 to the Amendment n°9.

 

Purchase Agreement 2 means the Agreement.

 

     Page 9/12

    

    

 

LETTER
AGREEMENT No.1 to Amendment No.27

 

Purchase Agreement 2 Letter Agreements means
the letter agreement n°2, the letter agreement n°3, the letter agreement n°4, the letter agreement n°5, the letter agreement
n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment No.27.

 

Purchase Agreement 3 means the Airbus A320
family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer, as amended and supplemented from time
to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to time relating
thereto).

 

Termination Agreement means the A350XWB
termination agreement to be entered into between the Seller and the Buyer.

 

		4.	Assignment

 

Notwithstanding any other
provision of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein shall
not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause
shall be void and of no force or effect.

 

		5.	Confidentiality

 

The Parties hereby acknowledge and agree that
this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10 of the Agreement, except that the Buyer may
disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary to obtain approval of this Letter Agreement
and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured Creditors, (b) that certain Ad Hoc Group
of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the extent the Buyer files this Letter Agreement
with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement, along with any related filings, under
seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”) entered by the Bankruptcy Court
in the Chapter 11 Cases at Docket No. 1810.

 

		6.	Severability

 

In the event that any provision of this Letter
Agreement should for any reason be held ineffective, the remainder of this Letter Agreement shall remain in full force and effect. To
the extent permitted by applicable law, each party hereto hereby waives any provision of law which renders any provision of this Letter
Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement which may prove to be or become, illegal,
invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject to applicable law, be performed in accordance
with the spirit and purpose of this Letter Agreement.

 

		7.	Alterations to Contract

 

This Letter Agreement contains the entire agreement
between the Parties with respect to the subject matter hereof and supersedes any previous understandings, commitments or representations
whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied except by an instrument in writing of date even
herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

     Page 10/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

		8.	Law and Jurisdiction

 

This Letter Agreement shall be governed by and
construed in accordance with the laws of England. Any dispute arising out of or in connection with this Letter Agreement shall be within
the exclusive jurisdiction of the Courts of England except that subject to the last sentence of this Clause 8 and during the pendency
of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court shall have
exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn,
or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S. District Court for the Southern District of New
York or the state court of the State of New York located in New York County, New York.

 

LETTER AGREEMENT No.1 to Amendment No.27

 

Subject to the
last sentence of this Clause 8, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of
the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the
extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to
not have subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court of
the State of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For the avoidance of doubt, nothing in this Clause
8 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain from hearing or otherwise transfer a dispute
arising under this Letter Agreement or to argue that the Bankruptcy Court does not have statutory authority to adjudicate disputes arising
under this Letter Agreement, nor any Party’s defenses in respect of any such request or argument.

 

In this clause 8:

 

Bankruptcy Code means the chapter 11 of
title 11 of the United States Code.

 

Bankruptcy Court means the United States
Bankruptcy Court for the Southern District of New York.

 

Chapter 11 Cases means the voluntary petition
filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

     Page 11/12

    

    

 

LETTER AGREEMENT No.1 to Amendment No.27

 

If the foregoing correctly sets forth our understanding, please execute
two (2) originals in the space provided below and return one (1) original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	 	Agreed and Accepted
	For and on behalf of	 	For and on behalf of
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.

 

	By:	 	 	By:	REDACTED* 
	 	 	 	 	 
	Its:	 	 	Its:	REDACTED*
	 	 	 	 	 
	Date:	 	 	Date:	 

 

	By:	 	 
	 	 	 
	Its:	 	 
	 	 	 
	Date:	 	 

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

     Page 12/12

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

LATAM AIRLINES GROUP S.A.

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th Floor

Las Condes

Santiago

Chile

 

Subject: REDACTED*

 

LATAM AIRLINES GROUP S.A.
(the “Buyer”) and AIRBUS S.A.S. (the “Seller”) have entered into, as of the date hereof Amendment No.27
(the “Amendment No.27”) to the A320/A330 Purchase Agreement dated as of November 14, 2006, as amended from time to time
(the “Agreement”), covering the manufacture and the sale, among others, by the Seller and the purchase by the Buyer
of the 2021 Incremental NEO Aircraft.

 

Capitalized terms used herein and not otherwise
defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both parties agree that this Letter Agreement,
upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27 and shall be governed by all its provisions,
as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In the event of any conflict between the terms
of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits and appendices thereto), the terms of this
Letter Agreement shall prevail.

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 1/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

		1.	REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 2/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

		2.	REDACTED*

 

REDACTED*

 

		3.	Condition Precedent

 

The Seller and the Buyer hereby agree that it
shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy Court shall have entered an order in
form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii) authorizing the Buyer and Piquero,
as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents, the Termination Agreement and the
Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements, as amended; (iii) providing that
the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended, the Termination Agreement,
the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative expense claims in
the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under the Piquero Guarantee
shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

In this Clause 3:

 

Amendment n°1 means the amendment agreement
to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

Amendment n°9 means the amendment agreement
to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 3/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

Amendment n°18 means the amendment
agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means the Amendment
n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement 1 Letter Agreement and the Purchase
Agreement 2 Letter Agreements.

 

Assignment, Assumption and Release Amendment
Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between the Buyer, the
Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer, the Seller and
Piquero.

 

Assumed Purchase Agreements means the Purchase
Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed (as amended).

 

Consent Agreement Supplement means
the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and Banco Santander, S.A.
in relation to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent Agreement Supplement
and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

 

Piquero Guarantee means the guarantee and
indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter alia, the obligations of Piquero under
the Piquero Purchase Agreement.

 

Piquero Purchase Agreement means the Purchase
Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released pursuant to the Assignment, Assumption
and Release Amendment Agreement.

 

Purchase Agreement 1 means the Airbus A320
family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller, and as amended and supplemented from time
to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to time relating
thereto).

 

Purchase Agreement 1 Letter Agreement means
the letter agreement n°1 to the Amendment n°9.

 

Purchase Agreement 2 means the Agreement.

 

Purchase Agreement 2 Letter Agreements means
the letter agreement n°1, the letter agreement n°3, the letter agreement n°4, the letter agreement n°5, the letter agreement
n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment No.27.

 

Purchase Agreement 3 means the Airbus A320
family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer, as amended and supplemented from time
to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to time relating
thereto).

 

Termination Agreement means the A350XWB
termination agreement to be entered into between the Seller and the Buyer.

 

    Page 4/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

		4.	Assignment

 

Notwithstanding any other provision of this Letter
Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein shall not be assigned or transferred
in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void and of no force
or effect.

 

		5.	Confidentiality

 

The Parties hereby acknowledge and agree that
this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10 of the Agreement, except that the Buyer may
disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary to obtain approval of this Letter Agreement
and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured Creditors, (b) that certain Ad Hoc Group
of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the extent the Buyer files this Letter Agreement
with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement, along with any related filings, under
seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”) entered by the Bankruptcy Court
in the Chapter 11 Cases at Docket No. 1810.

 

		6.	Severability

 

In the event that any provision of this Letter
Agreement should for any reason be held ineffective, the remainder of this Letter Agreement shall remain in full force and effect. To
the extent permitted by applicable law, each party hereto hereby waives any provision of law which renders any provision of this Letter
Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement which may prove to be or become, illegal,
invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject to applicable law, be performed in accordance
with the spirit and purpose of this Letter Agreement.

 

		7.	Alterations to Contract

 

This Letter Agreement contains the entire agreement
between the Parties with respect to the subject matter hereof and supersedes any previous understandings, commitments or representations
whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied except by an instrument in writing of date even
herewith or subsequent hereto executed by both parties or by their duly authorised representatives.

 

		8.	Law and Jurisdiction

 

This Letter Agreement shall be governed by and
construed in accordance with the laws of England. Any dispute arising out of or in connection with this Letter Agreement shall be within
the exclusive jurisdiction of the Courts of England except that subject to the last sentence of this Clause 8 and during the pendency
of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court shall have
exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn,
or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S. District Court for the Southern District of New
York or the state court of the State of New York located in New York County, New York.

 

    Page 5/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

Subject to the last sentence of
this Clause 8, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of the Chapter 11
Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the extent the
Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have
subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court of the State
of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For the avoidance of doubt, nothing in this Clause
8 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain from hearing or otherwise transfer a dispute
arising under this Letter Agreement or to argue that the Bankruptcy Court does not have statutory authority to adjudicate disputes arising
under this Letter Agreement, nor any Party’s defenses in respect of any such request or argument.

 

In this Clause 8:

 

Bankruptcy Code means the chapter 11 of
title 11 of the United States Code.

 

Bankruptcy Court means the United States
Bankruptcy Court for the Southern District of New York.

 

Chapter 11 Cases means the voluntary petition
filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

    Page 6/7

    

    

 

LETTER AGREEMENT No.2 to Amendment No.27

 

tly sets forth our understanding, please
execute two (2) originals in the space provided below and return one (1) original of this Letter Agreement to the Seller.

 

 

	Agreed and Accepted	 	Agreed and Accepted
	For and on behalf of	 	For and on behalf of
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.

 

	By:	 	 	By:	REDACTED* 
	 	 	 	 	 
	Its:	 	 	Its:	REDACTED*
	 	 	 	 	 
	Date:	 	 	Date:	 

 

 

	By:	 	 
	 	 	 
	Its:	 	 
	 	 	 
	Date:	 	 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 7/7

    

    

 

LETTER AGREEMENT No.3 to Amendment No.27

 

LATAM AIRLINES GROUP S.A.

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th Floor Las Condes

Santiago

Chile

 

Subject: REDACTED*                                                       – SUPPORT PACKAGE

 

LATAM AIRLINES GROUP S.A.
(the “Buyer”) and AIRBUS S.A.S. (the “Seller”) have entered into, as of even date hereof., an amendment
No.27 (the “Amendment No.27”) to the A320/A330 Purchase Agreement dated November 14,2006, as amended from time to time
(the “Agreement”), covering the manufacture and the sale, among others, by the Seller and the purchase by the Buyer
of the 2021 Incremental NEO Aircraft.

 

Capitalized terms used herein and not otherwise
defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both parties agree that this Letter Agreement,
upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27 and shall be governed by all its provisions,
as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In the event of any conflict between the terms
of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits and appendices thereto), the terms of this
Letter Agreement shall prevail.

 

 

 

		*	All text marked “REDACTED*” is Redacted Per Amended Standing
Order Regarding Redaction Dated February 2, 2021.

 

    Page 1/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

REDACTED*

 

		1.	Training
                                            REDACTED*

 

REDACTED*the
Seller shall provide REDACTED* to the Buyer with the following training services REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

		1.1	Training
                                            Validity

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 2/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

REDACTED*

 

 

		1.2	Flight
                                            Crew Courses

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		1.3	Cabin
                                            Crew Courses

 

REDACTED*

 

 

 

		1.4	Maintenance
                                            Courses

 

REDACTED*

 

 

		2.	Seller
                                            Representatives under Clause 15 of the Agreement

 

The
Seller shall provide REDACTED* Seller Representative Services REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 3/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 4/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		7.	Condition
                                            Precedent

 

The
Seller and the Buyer hereby agree that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy
Court shall have entered an order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii)
authorizing the Buyer and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents,
the Termination Agreement and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements,
as amended; (iii) providing that the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended,
the Termination Agreement, the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative
expense claims in the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under
the Piquero Guarantee shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

In
this Clause 7:

 

Amendment
n°1 means the amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and
Piquero.

 

Amendment
n°9 means the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment
n°18 means the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the
Buyer.

 

Amendment
Documents means the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement
1 Letter Agreement and the Purchase Agreement 2 Letter Agreements.

 

Assignment,
Assumption and Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be
entered into
between the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the
Buyer, the Seller and Piquero.

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 5/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

Assumed
Purchase Agreements means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement
being assumed (as amended).

 

Consent
Agreement Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer
and Banco Santander, S.A. in relation to the consent agreement dated 6 June 2019.

 

PDP
Financing Documents means the Consent Agreement Supplement and the Assignment, Assumptiona and Release Amendment Agreement.

 

Piquero
means Piquero Leasing Limited.

 

Piquero
Guarantee means the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter
alia, the obligations of Piquero under the Piquero Purchase Agreement.

 

Piquero
Purchase Agreement means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released
pursuant to the Assignment, Assumption and Release Amendment Agreement.

 

Purchase
Agreement 1 means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller,
and as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Purchase
Agreement 1 Letter Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase
Agreement 2 means the Agreement.

 

Purchase
Agreement 2 Letter Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°4, the
letter agreement n°5, the letter agreement n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment
No.27.

 

Purchase
Agreement 3 means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer,
as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Termination
Agreement means the A350XWB termination agreement to be entered into between the Seller and the Buyer.

 

    Page 6/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

		8.	Assignment

 

Notwithstanding
any other provision of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein
shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this
Clause shall be void and of no force or effect.

 

		9.	Confidentiality

 

The
Parties hereby acknowledge and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10
of the Agreement, except that the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary
to obtain approval of this Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured
Creditors, (b) that certain Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the
extent the Buyer files this Letter Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement,
along with any related filings, under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”)
entered by the Bankruptcy Court in the Chapter 11 Cases at Docket No. 1810.

 

		10.	Severability

 

In
the event that any provision of this Letter Agreement should for any reason be held ineffective, the remainder of this Letter Agreement
shall remain in full force and effect. To the extent permitted by applicable law, each party hereto hereby waives any provision of law
which renders any provision of this Letter Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement
which may prove to be or become, illegal, invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject
to applicable law, be performed in accordance with the spirit and purpose of this Letter Agreement.

 

		11.	Alterations
                                            to Contract

 

This
Letter Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes any previous
understandings, commitments or representations whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied
except by an instrument in writing of date even herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

		12.	Law
                                            and Jurisdiction

 

This
Letter Agreement shall be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection
with this Letter Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence
of this Clause 12 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for
the Buyer, the Bankruptcy Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains,
reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S.
District Court for the Southern

 

    Page 7/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

District
of New York or the state court of the State of New York located in New York County, New York.

 

Subject
to the last sentence of this Clause 12, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency
of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the
extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not
have subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court of the State
of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For
the avoidance of doubt, nothing in this Clause 12 shall waive or modify any Party’s right to request that the Bankruptcy Court
abstain from hearing or otherwise transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not
have statutory authority to adjudicate disputes arising under this Letter Agreement, nor any Party’s defenses in respect of any
such request or argument.

 

In
this Clause 12:

 

Bankruptcy
Code means the chapter 11 of title 11 of the United States Code.

 

Bankruptcy
Court means the United States Bankruptcy Court for the Southern District of New York.

 

Chapter
11 Cases means the voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

    Page 8/9

    

    

 

LETTER
AGREEMENT No.3 to Amendment No.27

 

If
the foregoing correctly sets forth our understanding, please execute two (2) originals in the space provided below and return one (1)
original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	 	Agreed and Accepted
	For and on behalf of	 	For and on behalf of
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.

 

	By :	 	 	By :	REDACTED*
	 	 	 	 	 
	Its : 	 	 	Its :	REDACTED*
	 	 	 	 	 
	Date :	 	 	Date :	

 

 

 

 

 

 

 

 

	 	 	 
	By :	     	 
	 	 	 
	Its :	 	 
	 	 	 
	Date :	 	 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 9/9

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

LATAM
AIRLINES GROUP S.A.

Edificio
Huidobro

Avenida
Presidente Riesco 5711 – 20th Floor

Las
Condes

Santiago

Chile

 

 

 

 

 

 

 

 

 

 

Subject:
REDACTED*

 

 

 

 

 

LATAM
AIRLINES GROUP S.A. (the "Buyer") and AIRBUS S.A.S. (the "Seller") have entered into, as of even date
hereof, an amendment No.27 (the "Amendment No.27") to the A320/A330 Purchase Agreement dated November 14, 2006, as amended
from time to time (the “Agreement”), covering the manufacture and the sale, among others, by the Seller and the purchase
by the Buyer of the 2021 Incremental NEO Aircraft.

 

Capitalized
terms used herein and not otherwise defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both
parties agree that this Letter Agreement, upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27
and shall be governed by all its provisions, as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In
the event of any conflict between the terms of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits
and appendices thereto), the terms of this Letter Agreement shall prevail.

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 1/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

		1.	REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 2/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

REDACTED*

 

 

 

 

 

 

 

 

 

		2.	REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 3/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		3.	Condition
                                            Precedent

 

The
Seller and the Buyer hereby agree that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy
Court shall have entered an order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii)
authorizing the Buyer and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents,
the Termination Agreement and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements,
as amended; (iii) providing that the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended,
the Termination Agreement, the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative
expense claims in the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under
the Piquero Guarantee shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 4/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

In
this Clause 3:

 

Amendment
n°1 means the amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and
Piquero.

 

Amendment
n°9 means the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment
n°18 means the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the
Buyer.

 

Amendment
Documents means the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement
1 Letter Agreement and the Purchase Agreement 2 Letter Agreements.

 

Assignment,
Assumption and Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be
entered into between the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019
between the Buyer, the Seller and Piquero.

 

Assumed
Purchase Agreements means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement
being assumed (as amended).

 

Consent
Agreement Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer
and Banco Santander, .A. in relation to the consent agreement dated 6 June 2019.

 

PDP
Financing Documents means the Consent Agreement Supplement and the Assignment, Assumpton and Release Amendment Agreement.

 

Piquero
means Piquero Leasing Limited.

 

Piquero
Guarantee means the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter
alia, the obligations of Piquero under the Piquero Purchase Agreement.

 

Piquero
Purchase Agreement means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released
pursuant to the Assignment, Assumption and Release Amendment Agreement.

 

Purchase
Agreement 1 means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller,
and as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

    Page 5/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

Purchase
Agreement 1 Letter Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase
Agreement 2 means the Agreement.

 

Purchase
Agreement 2 Letter Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the
letter agreement n°5, the letter agreement n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment
No.27.

 

Purchase
Agreement 3 means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer,
as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Termination
Agreement means the A350XWB termination agreement to be entered into between the Seller and the Buyer.

 

		4.	Assignment

 

Notwithstanding
any other provision of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein
shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this
Clause shall be void and of no force or effect.

 

		5.	Confidentiality

 

The
Parties hereby acknowledge and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10
of the Agreement, except that the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary
to obtain approval of this Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured
Creditors, (b) that certain Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the
extent the Buyer files this Letter Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement,
along with any related filings, under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”)
entered by the Bankruptcy Court in the Chapter 11 Cases at Docket No. 1810.

 

		6.	Severability

 

In
the event that any provision of this Letter Agreement should for any reason be held ineffective, the remainder of this Letter Agreement
shall remain in full force and effect. To the extent permitted by applicable law, each party hereto hereby waives any provision of law
which renders any provision of this Letter Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement
which may prove to be or become, illegal, invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject
to applicable law, be performed in accordance with the spirit and purpose of this Letter Agreement.

 

    Page 6/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

		7.	Alterations
                                            to Contract

 

This
Letter Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes any previous
understandings, commitments or representations whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied
except by an instrument in writing of date even herewith or subsequent hereto executed by both Parties or by their duly authorized representatives.

 

		8.	Law
                                            and Jurisdiction

 

This
Letter Agreement shall be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection
with this Letter Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence
of this Clause 8 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for
the Buyer, the Bankruptcy Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains,
reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S.
District Court for the Southern District of New York or the state court of the State of New York located in New York County, New York.

 

Subject
to the last sentence of this Clause 8, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency
of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the
extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not
have subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court of the State
of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For
the avoidance of doubt, nothing in this Clause 8 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain
from hearing or otherwise transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not have
statutory authority to adjudicate disputes arising under this Letter Agreement, nor any Party’s defenses in respect of any such
request or argument.

 

In
this Clause 8:

 

Bankruptcy
Code means the chapter 11 of title 11 of the United States Code.

 

Bankruptcy
Court means the United States Bankruptcy Court for the Southern District of New York.

 

Chapter
11 Cases means the voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

    Page 7/8

    

    

 

LETTER
AGREEMENT No.4 to Amendment No.27

 

If
the foregoing correctly sets forth our understanding, please execute two (2) originals in the space provided below and return one (1)
original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	 	Agreed and Accepted
	For and on behalf of	 	For and on behalf of

 

	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.

 

 

 

 

 

 

 

 

 

	By :	 	 	By :	REDACTED*
	 	 	 	 	 
	Its : 	 	 	Its :	REDACTED*
	 	 	 	 	 
	Date :	 	 	Date :	

 

 

 

 

 

 

 

 

 

 

	 	 	 
	By :	     	 
	 	 	 
	Its :	 	 
	 	 	 
	Date :	 	 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 8/8

    

    

 

LETTER
AGREEMENT No.5 to Amendment No.27

 

LATAM
AIRLINES GROUP S.A.

Edificio
Huidobro

Avenida
Presidente Riesco 5711 – 20th Floor

Las Condes

Santiago

Chile

 

 

 

 

 

 

 

 

 

 

 

 

Subject:
REDACTED*

 

 

 

 

 

 

LATAM
AIRLINES GROUP S.A. ("the Buyer") and AIRBUS S.A.S. ("the Seller") have entered into as of the date
hereof, into an amendment No.27 (the "Amendment No.27") to the A320/A330 Purchase Agreement as amended from time to
time (the “Agreement”), such Amendment No.27 covering the manufacture and the sale, among others, by the Seller and
the purchase by the Buyer of the 2021 Incremental NEO Aircraft as described in such Amendment No.27.

 

Capitalized
terms used herein and not otherwise defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both
parties agree that this Letter Agreement, upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27
and shall be governed by all its provisions, as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In
the event of any conflict between the terms of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits
and appendices thereto), the terms of this Letter Agreement shall prevail.

 

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Date February 2, 2021.

 

    Page 1/6

    

    

 

 

LETTER AGREEMENT No.5 to Amendment No.27

 

REDACTED*

 

 

 

 

REDACTED*

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

	2.	Assignment

 

Notwithstanding any other provision
of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein shall not be assigned
or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this Clause shall be void
and of no force or effect.

 

	3.	Costs and Expenses

 

The Buyer shall be responsible
for all the reasonable and documented costs incurred in connection with any application to the Export Credit Agencies including, but not
limited to, out-of-pocket expenses, application fees and reasonable and documented costs and expenses of outside legal counsel to the
Seller.

 

	4.	Condition Precedent

 

The Seller and the Buyer
hereby agree that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy Court shall
have entered an order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii)
authorizing the Buyer and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing
Documents, the Termination Agreement and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed
Purchase Agreements, as amended; (iii) providing that the obligations of the Buyer and Piquero, as applicable, under the Assumed
Purchase Agreements, as amended, the Termination Agreement, the Piquero Guarantee and the Assignment, Assumption and Release
Amendment Agreement shall constitute administrative expense claims in the Case pursuant to section 503 of the Bankruptcy Code; and
(iv) providing that the obligations of the Buyer under the Piquero Guarantee shall be binding upon and constitute obligations of the
reorganized debtors or their successors.

 

 

 

	*	All text marked "REDACTED*" is Redacted
                                            Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

    Page 2/6

    

    

 

LETTER AGREEMENT No.5 to Amendment No.27

 

In this Clause 4:

 

Amendment n°1 means the
amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

Amendment n°9 means
the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°18 means
the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means
the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement 1 Letter Agreement and
the Purchase Agreement 2 Letter Agreements.

 

Assignment, Assumption and Release
Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between the
Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer, the
Seller and Piquero.

 

Assumed Purchase Agreements
means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed
(as amended).

 

Consent Agreement
Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and
Banco Santander, S.A. in relation to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent
Agreement Supplement and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

 

Piquero Guarantee means
the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter alia, the obligations
of Piquero under the Piquero Purchase Agreement.

 

Piquero Purchase Agreement
means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released pursuant to the Assignment,
Assumption and Release Amendment Agreement.

 

Purchase Agreement 1 means
the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller, and as amended and supplemented
from time to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to
time relating thereto).

 

Purchase Agreement 1 Letter
Agreement means the letter agreement n°1 to the Amendment n°9.

 

    Page 3/6

    

    

 

LETTER AGREEMENT No.5 to Amendment No.27

 

Purchase Agreement 2 means
the Agreement.

 

Purchase Agreement 2 Letter Agreements
means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the letter agreement n°4, the letter
agreement n°6, the letter agreement n°8D and the letter agreement n°9D to the Amendment No.27.

 

Purchase Agreement 3 means
the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer, as amended and supplemented
from time to time (including without limitation all exhibits and appendices thereto and any letter agreements entered into from time to
time relating thereto).

 

Termination Agreement
means the A350XWB termination agreement to be entered into between the Seller and the Buyer.

 

	5.	Confidentiality

 

The Parties hereby acknowledge
and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10 of the Agreement, except that
the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary to obtain approval of this
Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured Creditors, (b) that certain
Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the extent the Buyer files this Letter
Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement, along with any related filings,
under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”) entered by the Bankruptcy
Court in the Chapter 11 Cases at Docket No. 1810.

 

	6.	Severability

 

In the event that any provision
of this Letter Agreement should for any reason be held ineffective, the remainder of this Letter Agreement shall remain in full force
and effect. To the extent permitted by applicable law, each party hereto hereby waives any provision of law which renders any provision
of this Letter Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement which may prove to be or
become, illegal, invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject to applicable law, be
performed in accordance with the spirit and purpose of this Letter Agreement.

 

	7.	Alterations to Contract

 

This Letter Agreement contains
the entire agreement between the Parties with respect to the subject matter hereof and supersedes any previous understandings, commitments
or representations whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied except by an instrument in
writing of date even herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

    Page 4/6

    

    

 

LETTER AGREEMENT No.5 to Amendment No.27

 

	8.	Law and Jurisdiction

 

This Letter Agreement shall be
governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection with this Letter
Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence of this
Clause 8 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the
Buyer, the Bankruptcy Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains,
reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the
U.S. District Court for the Southern District of New York or the state court of the State of New York located in New York County,
New York.

 

Subject to the last sentence
of this Clause 8, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of the Chapter 11
Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the extent the
Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have
subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court of the State
of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For the avoidance of doubt, nothing
in this Clause 8 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain from hearing or otherwise
transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not have statutory authority to adjudicate
disputes arising under this Letter Agreement, nor any Party’s defenses in respect of any such request or argument.

 

In this Clause 8:

 

Bankruptcy Code means the
chapter 11 of title 11 of the United States Code.

 

Bankruptcy Court means the
United States Bankruptcy Court for the Southern District of New York.

 

Chapter 11 Cases means the
voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

    Page 5/6

    

    

 

LETTER AGREEMENT No.5 to Amendment No.27

 

If the foregoing correctly sets forth our understanding,
please execute two (2) originals in the space provided below and return one (1) original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	 	Agreed and Accepted
	For and on behalf of	 	For and on behalf of
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	AIRBUS S.A.S.
	 	 	 

 

	By:

	 	 	By:	REDACTED*
	 	 	 	 	 
	Its:	 	 	Its:	REDACTED*
	 	 	 	 	 
	Date :	 	 	Date :	  

 

 

	By:	 	 
	 	 	 
	Its:	 	 
	 	 	 
	Date :	 	 

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 6/6

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

LATAM AIRLINES GROUP S.A.

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th Floor

Las Condes Santiago

Chile

 

Subject : A320F NEO Family - REDACTED*

 

TAM - LINHAS AEREAS S.A. and
AIRBUS S.A.S. (the "Seller") have entered into an A320 Family / A330 Purchase Agreement dated 14 November 2006
(as novated to LATAM AIRLINES GROUP (the “Buyer”) through a novation agreement dated 30 October 2014 between TAM Linhas
Aereas S.A., the Buyer and Airbus, and as amended and supplemented from time to time) for the manufacture and the sale, among others,
by the Seller and the purchase by the Buyer of the 2011 A320 NEO Family Aircraft (as such term is defined in the amendment 11 to the Purchase
Agreement dated 11 October 2011 (the “Amendment No.11”) and the 2021 Incremental NEO Aircraft (as such term is defined
in the amendment 27 to the Purchase Agreement as of the date hereof (the “Amendment No.27”)) (the "Purchase
Agreement").

 

Capitalised terms used herein
and not otherwise defined in this Letter Agreement shall have the meanings assigned thereto in the Purchase Agreement.

 

Both parties agree that this Letter
Agreement, upon execution hereof shall constitute an integral, non-severable part of the Purchase Agreement and shall be governed by all
its provisions as such provisions have been specifically amended pursuant to this Letter Agreement.

 

 

 

	*	All text marked "REDACTED*" is Redacted Per Amended
Standing Order Regarding Redaction Dated February 2, 2021.

     Page 1/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

  

     Page 2/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 3/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 4/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED* 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

     Page 5/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment No.11

 

REDACTED*  

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 6/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 7/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 8/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 9/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

	28.	Governing Law and Jurisdiction

 

This Letter Agreement REDACTED*

shall be governed by and construed
in accordance with English law. Any dispute arising out of or in connection with this Letter Agreement shall be within the exclusive jurisdiction
of the Courts of England except that subject to the last sentence of this Clause 28 and during the pendency of the Chapter 11 Cases for
the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court shall have exclusive jurisdiction over
any disputes or, to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court
is otherwise found to not have jurisdiction, then to the U.S. District Court for the Southern District of New York or the state court
of the State of New York located in New York County, New York.

 

Subject to the last sentence of this
Clause 28, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the pendency of the Chapter 11 Cases for
the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court or to the extent the Bankruptcy Court
abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have subject matter jurisdiction,
then to the U.S. District Court for the Southern District of New York or the state court of the State of New York located in New York
County, New York, and (ii) thereafter, the Courts of England.

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

  

     Page 10/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

For the avoidance of doubt, nothing
in this Clause 28 shall waive or modify any party’s right to request that the Bankruptcy Court abstain from hearing or otherwise
transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not have statutory authority to adjudicate
disputes arising under this Letter Agreement, nor any party’s defenses in respect of any such request or argument.

 

In this clause 28:

 

Bankruptcy Code means the chapter
11 of title 11 of the United States Code.

 

Bankruptcy Court means
the United States Bankruptcy Court for the Southern District of New York.

 

Chapter 11 Cases means the
voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

	29.	Confidentiality

 

The Parties hereby acknowledge
and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10 of the Agreement, except
that the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary to obtain approval
of this Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured Creditors, (b)
that certain Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the extent the
Buyer files this Letter Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement,
along with any related filings, under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing
Order”) entered by the Bankruptcy Court in the Chapter 11 Cases at Docket No. 1810.

 

REDACTED*

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

  

     Page 11/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

	*	All text marked "REDACTED*" is Redacted Per
Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 12/16

    

    

 

Amended and Restated LETTER AGREEMENT No. 6 to Amendment
No.11

 

	32.	Conditions Precedent to this Letter Agreement

 

The Seller and the Buyer hereby agree
that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy Court shall have entered an order
in form and substance acceptable to the Buyer and Seller (i) approving this Letter Agreement; (ii) authorizing the Buyer and Piquero,
as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents, the Termination Agreement and the
Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements, as amended; (iii) providing that
the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended, the Termination Agreement,
the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative expense claims in
the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under the Piquero Guarantee
shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

In this Clause 32:

 

Amendment n°1 means the amendment agreement
to the Piquero Purchase Agreement entered into or to be entered into between the Seller and Piquero.

 

Amendment n°9 means the amendment agreement
to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°18 means the amendment agreement
to the Purchase Agreement 3 entered into or to be entered into between the Seller and the Buyer.

 

Amendment n°27 means the amendment agreement
to the Purchase Agreement 2 entered into or to be entered into between the Seller and the Buyer.

 

Amendment Documents means
the Amendment n°1, the Amendment N°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement 1 Letter Agreement and
the Purchase Agreement 2 Letter Agreements.

 

Assignment, Assumption and
Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be entered into between
the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019 between the Buyer,
the Seller and Piquero.

 

Assumed Purchase Agreements
means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement being assumed (as
amended).

 

Consent Agreement Supplement means
the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer and Banco Santander, S.A. in
relation to the consent agreement dated 6 June 2019.

 

PDP Financing Documents means the Consent Agreement
Supplement and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero means Piquero Leasing Limited.

  

     Page 13/16

    

    

 

Amended
and Restated LETTER AGREEMENT No. 6 to Amendment No.11

 

Piquero
Guarantee means the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter
alia, the obligations of Piquero under the Piquero Purchase Agreement.

 

Piquero
Purchase Agreement means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released
pursuant to the Assignment, Assumption and Release Amendment Agreement.

 

Purchase
Agreement 1 means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller,
and as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Purchase
Agreement 1 Letter Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase
Agreement 2 means the A320/A330 purchase agreement entered into on 14 November 2006 between the Buyer and the Seller, and as
amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter
agreements entered into from time to time relating thereto).

 

Purchase
Agreement 2 Letter Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the
letter agreement n°4, the letter agreement n°5, the letter agreement n°6, the letter agreement n°8D and the letter agreement
n°9D to the Amendment n°27.

 

Purchase
Agreement 3 means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer,
as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Termination
Agreement means the A350XWB termination agreement to be entered into between the Seller and the Buyer

 

     Page 14/16

    

    

 

Amended
and Restated LETTER AGREEMENT No. 6 to Amendment No.11

 

If
the foregoing correctly sets forth our understanding, please execute two (2) originals in the space provided below and return one (1)
original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	Agreed and Accepted
	For and on behalf of	For and on behalf of
	 	 
	LATAM AIRLINES GROUP
    S.A.	AIRBUS S.A.S.

 

 

 

 

	Name:	Name: 	REDACTED*
	 	 	 
	Title:	Title:	REDACTED*
	 	 	 
	Date:	Date:	 

 

 

 

 

 

	Name:
	 
	Date:
	 
	Title:

 

 

 

		*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     Page 15/16

    

    

 

Amended
and Restated LETTER AGREEMENT No. 6 to Amendment No.11

 

LETTER
AGREEMENT N° 6                            APPENDIX 1

 

REDACTED*

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

'REDACTED*·
· · · · · · · · · · · · ·

 

REDACTED*

 

 

 

 

 

 

 

 

 

 

		*	All
                                            text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction
                                            Dated February 2, 2021.

 

     Page 16/16

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

LATAM
AIRLINES GROUP S.A.

Edificio
Huidobro

Avenida
Presidente Riesco 5711 – 20th Floor

Las
Condes Santiago

Chile

 

 

 

 

 

 

 

Subject:
REDACTED*

 

 

 

LATAM
AIRLINES GROUP S.A. (the "Buyer") and AIRBUS S.A.S. (the "Seller") have entered into, as of even date
hereof, an amendment No.27 (the "Amendment No.27") to the A320/A330 Purchase Agreement dated November 14, 2006, as amended
from time to time (the “Agreement”), covering the manufacture and the sale, among others, by the Seller and the purchase
by the Buyer of the 2021 Incremental NEO Aircraft.

 

Capitalized
terms used herein and not otherwise defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both
parties agree that this Letter Agreement, upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27
and shall be governed by all its provisions, as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In
the event of any conflict between the terms of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits
and appendices thereto), the terms of this Letter Agreement shall prevail.

 

 

 

		*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     1/6

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

		1.	The
                                            Buyer and the Seller hereby agree REDACTED*

 

 

 

 

 

 

 

 

		2.	Condition
                                            Precedent

 

The
Seller and the Buyer hereby agree that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy
Court shall have entered an order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii)
authorizing the Buyer and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents,
the Termination Agreement and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements,
as amended; (iii) providing that the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended,
the Termination Agreement, the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative
expense claims in the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under
the Piquero Guarantee shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

In
this Clause 2:

 

Amendment
n°1 means the amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and
Piquero.

 

Amendment
n°9 means the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment
n°18 means the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the
Buyer.

 

Amendment
Documents means the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement
1 Letter Agreement and the Purchase Agreement 2 Letter Agreements.

 

Assignment,
Assumption and Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be
entered into between the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019
between the Buyer, the Seller and Piquero.

 

Assumed
Purchase Agreements means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement
being assumed (as amended).

 

     2/6

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

Consent
Agreement Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer
and Banco Santander, S.A. in relation to the consent agreement dated 6 June 2019.

 

PDP
Financing Documents means the Consent Agreement Supplement and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero
means Piquero Leasing Limited.

 

Piquero
Guarantee means the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter
alia, the obligations of Piquero under the Piquero Purchase Agreement.

 

Piquero
Purchase Agreement means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released
pursuant to the Assignment, Assumption and Release Amendment Agreement.

 

Purchase
Agreement 1 means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller,
and as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Purchase
Agreement 1 Letter Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase
Agreement 2 means the Agreement.

 

Purchase
Agreement 2 Letter Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the
letter agreement n°4, the letter agreement n°5, the letter agreement n°6 and the letter agreement n°9D to the Amendment
No.27.

 

Purchase
Agreement 3 means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer,
as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Termination
Agreement means the A350XWB termination agreement to be entered into between the Seller and the Buyer.

 

		3.	Assignment

 

Notwithstanding
any other provision of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein
shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this
Clause shall be void and of no force or effect.

 

		4.	Confidentiality

 

The
Parties hereby acknowledge and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10
of the Agreement, except that the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary
to obtain approval of this Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of
Unsecured Creditors, (b) that certain Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt,
to the extent the Buyer files this Letter Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and
the Agreement, along with any related filings, under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing
Order”) entered by the Bankruptcy Court in the Chapter 11 Cases at Docket No. 1810.

 

     3/6

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

 

		5.	Severability

 

In
the event that any provision of this Letter Agreement should for any reason be held ineffective, the remainder of this Letter Agreement
shall remain in full force and effect. To the extent permitted by applicable law, each party hereto hereby waives any provision of law
which renders any provision of this Letter Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement
which may prove to be or become, illegal, invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject
to applicable law, be performed in accordance with the spirit and purpose of this Letter Agreement.

 

		6.	Alterations
                                            to Contract

 

This
Letter Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes any previous
understandings, commitments or representations whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied
except by an instrument in writing of date even herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

		7.	Law
                                            and Jurisdiction

 

This
Letter Agreement shall be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection
with this Letter Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence
of this Clause 7 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for
the Buyer, the Bankruptcy Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains,
reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S.
District Court for the Southern District of New York or the state court of the State of New York located in New York County, New York.

 

Subject
to the last sentence of this Clause 7, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the
pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court
or to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise
found to not have subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the
state court of the State of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For
the avoidance of doubt, nothing in this Clause 7 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain
from hearing or otherwise transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not have
statutory authority to adjudicate disputes arising under this Letter Agreement, nor any Party’s defenses in respect of any
such request or argument.

 

     4/6

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

In
this Clause 7:

 

Bankruptcy
Code means the chapter 11 of title 11 of the United States Code.

 

Bankruptcy
Court means the United States Bankruptcy Court for the Southern District of New York.

 

Chapter
11 Cases means the voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

     5/6

    

    

 

LETTER AGREEMENT N°8D TO AMENDMENT No.27

 

If
the foregoing correctly sets forth our understanding, please execute two (2) originals in the space provided below and return one (1)
original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	Agreed and Accepted
	For and on behalf of	For and on behalf of
	 	 
	LATAM AIRLINES GROUP S.A.	AIRBUS S.A.S.
	 	 

 

	Name:	Name:	REDACTED*
	 	 	 
	Title:	Title:	REDACTED*
	 	 	 
	Date:	Date:	 

 

	Name
	 
	Title
	 
	Date

 

 

 

		*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     6/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

 

LATAM
AIRLINES GROUP S.A.

Edificio
Huidobro

Avenida
Presidente Riesco 5711 – 20th Floor Las Condes

Santiago
Chile

 

 

 

 

 

Subject:
REDACTED*

 

 

 

LATAM
AIRLINES GROUP S.A. (the "Buyer") and AIRBUS S.A.S. (the "Seller") have entered into, as of even date
hereof, an amendment No.27 (the "Amendment No.27") to the A320/A330 Purchase Agreement dated November 14, 2006, as amended
from time to time (the “Agreement”), covering the manufacture and the sale, among others, by the Seller and the purchase
by the Buyer of the 2021 Incremental NEO Aircraft.

 

Capitalized
terms used herein and not otherwise defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment No.27.

 

Both
parties agree that this Letter Agreement, upon execution thereof, shall constitute an integral, nonseverable part of said Amendment No.27
and shall be governed by all its provisions, as such provisions have been specifically amended pursuant to this Letter Agreement.

 

In
the event of any conflict between the terms of this Letter Agreement and the other terms of the Amendment No.27 (and any of the exhibits
and appendices thereto), the terms of this Letter Agreement shall prevail.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

		*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     1/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

		1.	The
                                            Buyer and the Seller hereby agree REDACTED*

 

 

 

 

 

 

		2.	Condition
                                            Precedent

 

The
Seller and the Buyer hereby agree that it shall be a condition precedent to the effectiveness of this Letter Agreement that the Bankruptcy
Court shall have entered an order in form and substance acceptable to the Buyer and the Seller (i) approving this Letter Agreement; (ii)
authorizing the Buyer and Piquero, as applicable, to enter into and perform under the Amendment Documents, the PDP Financing Documents,
the Termination Agreement and the Assignment, Assumption and Release Amendment Agreement and to assume the Assumed Purchase Agreements,
as amended; (iii) providing that the obligations of the Buyer and Piquero, as applicable, under the Assumed Purchase Agreements, as amended,
the Termination Agreement, the Piquero Guarantee and the Assignment, Assumption and Release Amendment Agreement shall constitute administrative
expense claims in the Case pursuant to section 503 of the Bankruptcy Code; and (iv) providing that the obligations of the Buyer under
the Piquero Guarantee shall be binding upon and constitute obligations of the reorganized debtors or their successors.

 

In
this Clause 2:

 

Amendment
n°1 means the amendment agreement to the Piquero Purchase Agreement entered into or to be entered into between the Seller and
Piquero.

 

Amendment
n°9 means the amendment agreement to the Purchase Agreement 1 entered into or to be entered into between the Seller and the Buyer.

 

Amendment
n°18 means the amendment agreement to the Purchase Agreement 3 entered into or to be entered into between the Seller and the
Buyer.

 

Amendment
Documents means the Amendment n°1, the Amendment n°9, the Amendment n°18, the Amendment No.27, the Purchase Agreement
1 Letter Agreement and the Purchase Agreement 2 Letter Agreements.

 

Assignment,
Assumption and Release Amendment Agreement means the assignment, assumption and release amendment agreement entered into or to be
entered into between the Buyer, the Seller and Piquero in relation to the assignment, assumption and release agreement dated 6 June 2019
between the Buyer, the Seller and Piquero.

 

Assumed
Purchase Agreements means the Purchase Agreement 1, the Purchase Agreement 2, the Purchase Agreement 3 and the Piquero Purchase Agreement
being assumed (as amended).

 

 

 

		*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

     2/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

Consent
Agreement Supplement means the consent agreement supplement entered into or to be entered into between Piquero, the Seller, the Buyer
and Banco Santander, S.A. in relation to the consent agreement dated 6 June 2019.

 

PDP
Financing Documents means the Consent Agreement Supplement and the Assignment, Assumption and Release Amendment Agreement.

 

Piquero
means Piquero Leasing Limited.

 

Piquero
Guarantee means the guarantee and indemnity dated 6 June 2019 granted by the Buyer in favour of the Seller with respect to, inter
alia, the obligations of Piquero under the Piquero Purchase Agreement.

 

Piquero
Purchase Agreement means the Purchase Agreement 1 (excluding any letter agreement relating thereto) as assigned, assumed and released
pursuant to the Assignment, Assumption and Release Amendment Agreement.

 

Purchase
Agreement 1 means the Airbus A320 family purchase agreement dated 22 June 2011 and entered into between the Buyer and the Seller,
and as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Purchase
Agreement 1 Letter Agreement means the letter agreement n°1 to the Amendment n°9.

 

Purchase
Agreement 2 means the Agreement.

 

Purchase
Agreement 2 Letter Agreements means the letter agreement n°1, the letter agreement n°2, the letter agreement n°3, the
letter agreement n°4, the letter agreement n°5, the letter agreement n°6 and the letter agreement n°8D to the Amendment
No.27.

 

Purchase
Agreement 3 means the Airbus A320 family purchase agreement dated 20 March 1998 and entered into between the Seller and the Buyer,
as amended and supplemented from time to time (including without limitation all exhibits and appendices thereto and any letter agreements
entered into from time to time relating thereto).

 

Termination
Agreement means the A350XWB termination agreement to be entered into between the Seller and the Buyer.

 

		3.	Assignment

 

Notwithstanding
any other provision of this Letter Agreement or of the Agreement, this Letter Agreement and the rights and obligations of the Buyer herein
shall not be assigned or transferred in any manner, and any attempted assignment or transfer in contravention of the provisions of this
Clause shall be void and of no force or effect.

 

		4.	Confidentiality

 

The
Parties hereby acknowledge and agree that this Letter Agreement is subject to the confidentiality provisions set forth in clause 22.10
of the Agreement, except that the Buyer may disclose a copy of this Letter Agreement (i) to the Bankruptcy Court to the extent necessary
to obtain approval of this Letter Agreement and (ii) on a professional eyes’ only basis to (a) the Official Committee of Unsecured
Creditors, (b) that certain Ad Hoc Group of LATAM Bondholders, and (c) the United States Trustee. For the avoidance of doubt, to the
extent the Buyer files this Letter Agreement with the Bankruptcy Court, the Buyer shall seek to file this Letter Agreement and the Agreement,
along with any related filings, under seal pursuant to the Amended Standing Order Regarding Redactions (the “Standing Order”)
entered by the Bankruptcy Court in the Chapter 11 Cases at Docket No. 1810.

 

     3/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

		5.	Severability

 

In
the event that any provision of this Letter Agreement should for any reason be held ineffective, the remainder of this Letter Agreement
shall remain in full force and effect. To the extent permitted by applicable law, each party hereto hereby waives any provision of law
which renders any provision of this Letter Agreement prohibited or unenforceable in any respect. Any provisions of this Letter Agreement
which may prove to be or become, illegal, invalid or unenforceable in whole or in part, shall as far as reasonably possible, and subject
to applicable law, be performed in accordance with the spirit and purpose of this Letter Agreement.

 

		6.	Alterations
                                            to Contract

 

This
Letter Agreement contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes any previous
understandings, commitments or representations whatsoever oral or written in respect thereto. This Letter Agreement shall not be varied
except by an instrument in writing of date even herewith or subsequent hereto executed by both Parties or by their duly authorised representatives.

 

		7.	Law
                                            and Jurisdiction

 

This
Letter Agreement shall be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection
with this Letter Agreement shall be within the exclusive jurisdiction of the Courts of England except that subject to the last sentence
of this Clause 7 and during the pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for
the Buyer, the Bankruptcy Court shall have exclusive jurisdiction over any disputes or, to the extent the Bankruptcy Court abstains,
reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise found to not have jurisdiction, then to the U.S.
District Court for the Southern District of New York or the state court of the State of New York located in New York County, New York.

 

Subject
to the last sentence of this Clause 7, the parties hereto irrevocably consent to the personal jurisdiction of (i) during the
pendency of the Chapter 11 Cases for the period prior to the effective date of a chapter 11 plan for the Buyer, the Bankruptcy Court
or to the extent the Bankruptcy Court abstains, reference to the Bankruptcy Court is withdrawn, or the Bankruptcy Court is otherwise
found to not have subject matter jurisdiction, then to the U.S. District Court for the Southern District of New York or the state
court of the State of New York located in New York County, New York, and (ii) thereafter, the Courts of England.

 

For
the avoidance of doubt, nothing in this Clause 7 shall waive or modify any Party’s right to request that the Bankruptcy Court abstain
from hearing or otherwise transfer a dispute arising under this Letter Agreement or to argue that the Bankruptcy Court does not have
statutory authority to adjudicate disputes arising under this Letter Agreement, nor any Party’s defenses in respect of any
such request or argument.

 

     4/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

In
this Clause 7:

 

Bankruptcy
Code means the chapter 11 of title 11 of the United States Code.

 

Bankruptcy
Court means the United States Bankruptcy Court for the Southern District of New York.

 

Chapter
11 Cases means the voluntary petition filed by the Buyer for relief under the Bankruptcy Code in the Bankruptcy Court.

 

     5/6

    

    

 

LETTER
AGREEMENT N°9D TO AMENDMENT No.27

 

If
the foregoing correctly sets forth our understanding, please execute two (2) originals in the space provided below and return one (1)
original of this Letter Agreement to the Seller.

 

	Agreed and Accepted	Agreed and Accepted
	For and on behalf of	For and on behalf of
	 	 
	LATAM AIRLINES GROUP
    S.A.	AIRBUS S.A.S.

 

	Name:	Name:	REDACTED*
	 	 	 
	Title:	Title:	REDACTED*
	 	 	 
	Date:	Date:	 

 

	Name:
	 
	Date:
	 
	Title:

 

 

 

 

 

	*	All
text marked "REDACTED*" is Redacted Per Amended Standing Order Regarding Redaction Dated February 2, 2021.

 

 

6/6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]