Document:

Exhibit 4.29.4

 

AMENDMENT N°4

 

TO THE

 

A350 XWB PURCHASE AGREEMENT

 

BETWEEN

 

AIRBUS S.A.S.

as Seller

 

AND

 

LATAM AIRLINES GROUP S.A.

as Buyer

 

REF: D10013836

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 1 of 12

     

    

 

AMENDMENT N°4

 

TO THE

 

A350 XWB PURCHASE AGREEMENT

 

This Amendment N°4 is made as of the
15th day of September 2015,

 

Between

 

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

 

1, rond-point Maurice Bellonte

31707 BLAGNAC CEDEX

 

FRANCE

 

and registered with the Toulouse Registre du Commerce et
des Sociétés under number RCS Toulouse 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 Seller and the Buyer
are hereinafter referred together as the “Parties” or
each as a “Party”

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 2 of 12

     

    

 

WHEREAS

 

		A-	The Seller and TAM Linhas Aereas S.A. (the “Original Buyer”) have signed on
20 December 2005 (as amended and restated on 21 January 2008) an A350 XWB Purchase Agreement (Reference CSC.337.0179/07) relating
to the purchase by the Original Buyer and the sale by the Seller of certain A350 XWB aircraft as amended pursuant to an amendment
N°1 dated 28 July 2010 (“Amendment N°1”) and an amendment N°2 dated 15 July 2014 (“Amendment
No2”) which, together with all Exhibits, Appendixes and Letter Agreements, is hereinafter referred to as the
“Agreement”.

 

		B-	The Buyer, Seller and Original Buyer entered into a novation agreement dated 21 July 2014 (the
“Novation Agreement”) novating the Agreement from the Original Buyer to the Buyer. The Agreement, as novated
pursuant to the Novation Agreement and as further amended pursuant to an amendment N°3 dated 30
October 2014 (“Amendment N°3”), is hereinafter referred to as the “A350 XWB Purchase Agreement”.

 

		C-	The Buyer and the Seller now wish to enter into this amendment No4 (“Amendment
No4”) to modify certain terms and conditions of the A350 XWB Purchase Agreement.

 

NOW THEREFORE IT IS AGREED AS FOLLOWS:

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 3 of 12

     

    

 

		1.	SCOPE

 

The
scope of this Amendment N°4
is to [***] and to [***] subject to terms and conditions set out herein.

 

		2.	A350XWB AIRCRAFT [***]

 

		2.1	Pursuant to the Amended and Restated Letter
Agreement N°4 to the
A350 XWB Purchase Agreement, the Seller has granted the Buyer [***]. 

 

			Notwithstanding the foregoing, subject
to the terms and conditions of this Amendment N°4,
the Buyer has requested and the Seller hereby agrees to [***] and to [***] in accordance with the following scheduled delivery
periods (the “New Scheduled Delivery Periods”):

 

	Aircraft
 Rank
 No	 	CACID	 	[***]
 Aircraft
 Type	 	[***]
 Scheduled
 Delivery
 Period	 	[***] 
 Aircraft
 Type	 	[***]
 Scheduled
 Delivery
 Period
	16	 	[***]	 	A350-[***] XWB	 	[***]	 	A350- [***] XWB	 	[***]
	17	 	[***]	 	A350-[***]  XWB	 	[***]	 	A350-[***] XWB	 	[***]
	18	 	[***]	 	A350-[***]  XWB	 	[***]	 	A350-[***]  XWB	 	[***]
	21	 	[***]	 	A350-[***]  XWB	 	[***]	 	A350-[***] XWB	 	[***]
	22	 	[***]	 	A350-[***]  XWB	 	[***]	 	A350-[***] XWB	 	[***]
	23	 	[***]	 	A350-[***]  XWB	 	[***]	 	A350- [***] XWB	 	[***]

 

			Such [***] shall not prejudice the rights of the Buyer to [***] pursuant to [***] to the A350 XWB
Purchase Agreement.

 

			For the sake of clarity, the term [***] shall mean the period starting on [***].

			 

		2.2	In consideration of the Seller agreeing
[***] as set forth in Clause 2.1 above, the Buyer hereby irrevocably waives any and all its rights to [***] under the A350 XWB
Purchase Agreement. Upon signature of this Amendment N°4,
the provisions of [***] to the A350 XWB Purchase Agreement (as amended under Clause 2.6 of Amendment N°3)
shall become null and void and of no force and effect.

 

		3.	TERMS APPLICABLE TO THE [***] A350-[***] XWB AIRCRAFT

 

		3.1	Each [***] Aircraft shall be deemed to be an [***] Aircraft within
the meaning of the A350 XWB Purchase Agreement and, unless otherwise expressly stipulated herein, all terms and conditions applicable
to the [***] Aircraft under the A350 XWB Purchase Agreement shall apply to the [***] Aircraft.

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 4 of 12

     

    

 

		3.2	For the avoidance of doubt, the [***] Aircraft shall not be subject to [***].

 

		4.	A350XWB AIRCRAFT [***] DELIVERY SCHEDULE

 

As
a result of (a) the [***] set forth in Clause 2.1 above and (b) the Parties agreeing to [***], the delivery schedule set forth
in Clause 9.1.1 of the A350 XWB Purchase Agreement
(as amended from time to time) shall be hereby cancelled and replaced with the following:

 

	Aircraft Rank	 	New CACID	 	Aircraft Type	 	Delivery Date
	 	 	 	 	 	 	 
	Aircraft N° 1	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 2	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 3	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 4	 	[***]	 	A350- [***] XWB	 	[***]
	Aircraft N° 5	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 6	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 7	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 8	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 9	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 10	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 11	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 12	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 13	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 14	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 15	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 16	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 17	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 18	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 19	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 20	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 21	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 22	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 23	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 24	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 25	 	[***]	 	A350-[***]XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 26	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 27	 	[***]	 	A350-[***] XWB	 	[***]

 

In respect of the [***] [***]
Aircraft to be delivered pursuant to Clause 9.1.1 of the A350 XWB Purchase Agreement (as amended from time to time), the Scheduled
Delivery [***] shall be notified in writing by the Seller to the Buyer no later than [***] prior to the [***] day of the [***].

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 5 of 12

     

    

 

The Scheduled Delivery [***]
of the [***] Aircraft to be delivered to the Buyer pursuant to Clause 9.1.1 of the A350 XWB Purchase Agreement (as amended from
time to time) shall be within [***] prior to the [***] day of the Scheduled Delivery [***] of the [***] XWB Aircraft to be delivered
to the Buyer pursuant to Clause 9.1.1 of the A350 XWB Purchase Agreement (as amended from time to time). For the avoidance of doubt,
the Seller shall be under no obligation to establish that [***] Aircraft to be delivered to the Buyer pursuant to Clause 9.1.1
of the A350 XWB Purchase Agreement (as amended from time to time) are [***].

 

		5.	PREDELIVERY PAYMENTS

 

		5.1	As a consequence of the [***] set forth
in Clause 2.1 above, in respect of each [***] XWB Aircraft, the [***] shall be [***] based on (a) the [***] set out in Clause 5.3.1.2
of the Agreement (as amended by Letter Agreement No11, and as further amended by Clause 5 of Amendment N°2)
in respect of A350-[***] XWB Aircraft and (b) the [***] set out in Clause 2.1 hereof. Such Predelivery Payments shall be made pursuant
to the schedule set out in Clause 5.3.2 of the Agreement (as amended by Letter Agreement No11) and Predelivery Payments
in the amount of USD [***] (US dollars—[***] and becoming due [***] as a result of the [***] shall be paid by the Buyer to
the Seller on such date.

 

		5.2	Clause 5.3.1.1 of the Agreement, as amended
by Letter Agreement No11, and as further amended by Clause 5 of Amendment N°2
and Clause 2.4 of Amendment N°3,
is hereby cancelled in its entirety and replaced by the following quoted provisions:

 

			QUOTE

5.3.1.1 [***]

 

[***]

 

			UNQUOTE

 

		5.3	For the avoidance of doubt, Clause 5.3.1.1
of the A350 XWB Purchase Agreement (as amended under Clause 5.2 of this Amendment N°4)
shall not apply to the [***] XWB Aircraft bearing CAC ID [***].

 

[***]

		6.1	[***]

 

		6.1.1	[***]

 

		6.1.2	[***].

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 6 of 12

     

    

 

		6.2	[***]

 

[***]

 

		6.3	[***]

 

[***]:

 

[***]

 

		2.1	[***]

 

			[***].

 

[***]

 

		6.	[***]

 

7.

 

	7.1	[***]:

 

[***]

 

		7.	[***]

 

[***]:

 

		·	[***]:

 

[***]

 

		·	[***]:

 

[***]

 

[***].

[***].

 

[***].

 

[***]

 

		7.2	[***].

 

		8.	[***]

 

		8.1	[***]:

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 7 of 12

     

    

 

[***].

 

[***].

 

		8.2	[***]:

 

	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]
	[***]	[***]	[***]	[***]	[***]

 

		8.3	[***]

 

		8.4	[***].

 

		8.5	[***].

 

		8.6	[***].

 

		8.7	[***]:

 

[***]
[***]:

 

[***]

 

[***]

 

	[***]	:	[***];
	 	 	 
	[***]	:	[***];
	 	 	 
	[***]	:	[***]
	 	 	 
	[***]	:	[***]

 

[***],

 

[***]
[***].

 

		9.	TRAINING MATTERS

 

		9.1	The first paragraph of Appendix A to Clause 16 of the Agreement is hereby cancelled in its entirety
and replaced by the following quoted provisions:

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 8 of 12

     

    

 

			QUOTE

 

For the avoidance of doubt, all
quantities indicated below are the total quantities granted for the whole of the Buyer’s fleet of [***], unless otherwise
specified.

 

UNQUOTE

 

		9.2	Clause 1.1 of Appendix A to Clause 16 of the Agreement is hereby cancelled in its entirety and
replaced by the following quoted provisions:

 

			QUOTE

 

		1.1	Flight Crew Training (standard transition course or cross crew qualification (CCQ)) 

 

The Seller shall provide flight
crew training (standard transition course) free of charge for [***] of the Buyer's flight crews per firmly ordered Aircraft. The
Buyer shall be entitled to convert any [***] standard transition course into [***] Cross Crew Qualification training courses (CCQ).
Such CCQ shall be between A320 or A330 and A350.

 

			UNQUOTE

 

		9.3	The Seller hereby confirms that the training required to transition flight crews between A350-[***]
XWB aircraft and A350-[***] XWB aircraft shall consist in a courseware familiarisation briefing (via e-learning) that shall be
provided to the Buyer [***].

 

		10.	MISCELLANEOUS PROVISIONS

 

If not otherwise expressly stated
in this Amendment N°4, the A350 XWB Purchase Agreement shall apply also to this Amendment N°4.

 

This Amendment N°4 supersedes
any previous understandings, commitments or representations whatsoever oral or written with respect to the matters referred to
herein. This Amendment N°4 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.

 

Capitalized terms used herein
and not otherwise defined herein shall have the meanings assigned thereto in the A350 XWB Purchase Agreement. The terms “herein”,
“hereof” and “hereunder” and words of similar import refer to this Amendment N°4.

 

In the event of any inconsistency
between the A350 XWB Purchase Agreement and this Amendment N°4, the latter shall prevail to the extent of said inconsistency.

 

Save to the extent expressly
amended by the terms of this Amendment N°4, the A350 XWB Purchase Agreement shall remain in full force and effect in accordance
with its terms.

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 9 of 12

     

    

 

This
Amendment N°4 (and its existence) shall be treated by each Party as confidential in accordance with the terms of Clause 22.10
of the A350 XWB Purchase Agreement. 

 

This Amendment N°4 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 Amendment N°4.

 

		11.	LAW AND JURISDICTION

 

		11.1	This Amendment N°4 shall be governed by and construed in accordance with the laws of England.
Any dispute arising out of or in connection with this Amendment N°4 shall be within the exclusive jurisdiction of the Courts
of England.

 

		11.2	The following documents shall, notwithstanding any provision to the contrary, be governed by and
construed in accordance with the laws of England and any dispute arising out of or in connection with any of these documents shall
be within the exclusive jurisdiction of the Courts of England:

 

		(i)	[***]

		(ii)	Amendment No1 and Letter Agreement No. 1 attached thereto, and

		(iii)	Amendment No2 and Letter Agreements Nos. 1 and 2 attached thereto, and

		(iv)	[***]

		(v)	Novation Agreement.

 

		11.3	The Buyer appoints the person from time to time appointed by the Buyer under the Companies
Act 2006 and notified to Seller in writing to receive on its behalf in England service of any proceedings under the A350 XWB Purchase
Agreement. Such service shall be deemed completed on delivery to such agent (whether or not it is forwarded to and received by
the Buyer) and shall be valid until such time as the Seller has received prior written notice that such agent has ceased to act
as agent. The name and address of the agent appointed by the Buyer at the time of execution of this Amendment N°4 shall be
notified in writing to the Seller at such time. If for any reason such agent ceases to be able to act as agent or no longer has
an address in England, the Buyer shall forthwith appoint a substitute acceptable to the Seller and deliver to the Seller the new
agent’s name and address in England.

 

		11.4	The Seller appoints [***] as its agent to receive on its behalf in England service of any
proceedings under the A350 XWB Purchase Agreement. Such service shall be deemed completed on delivery to such agent (whether or
not it is forwarded to and received by the Seller) and shall be valid until such time as the Buyer has received prior written notice
that such agent has ceased to act as agent. If for any reason such agent ceases to be able to act as agent or no longer has an
address in England, the Seller shall forthwith appoint a substitute acceptable to the Buyer and deliver to the Buyer the new agent’s
name and address in England.

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 10 of 12

     

    

 

		12.	SEVERABILITY

 

In the event that any provision
of this Amendment N°4 should for any reason be held ineffective, the remainder of this Amendment N°4 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 N°4 prohibited or unenforceable in any respect. Any provisions of this Amendment N°4 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 Amendment N°4.

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 11 of 12

     

    

 

This Amendment N°4 has been executed
in two (2) original specimens which are in English.

 

IN WITNESS WHEREOF this Amendment
N°4 to the A350 XWB Purchase 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 :
	 	 
	Title :	Title :

 

Name:

 

Title

 

Witness

 

Name:

Title:

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	Page 12 of 12

     

    

 

  

AMENDMENT N°5

 

TO THE

 

A350 XWB PURCHASE AGREEMENT

 

BETWEEN

 

AIRBUS S.A.S.

as Seller

 

AND

 

LATAM AIRLINES GROUP S.A.

as Buyer

 

REF: D10013836

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 1 of 10

     

    

 

AMENDMENT N°5

 

TO THE

 

A350 XWB PURCHASE AGREEMENT

 

This Amendment N°5 is made as of the
19th day of November 2015,

 

Between

 

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

 

1, rond-point Maurice Bellonte

31707 BLAGNAC CEDEX

 

FRANCE

 

and registered with the Toulouse Registre du Commerce et
des Sociétés under number RCS Toulouse 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 Seller and the Buyer
are hereinafter referred together as the “Parties” or
each as a “Party”

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 2 of 10

     

    

 

WHEREAS

 

		A-	The Seller and TAM Linhas Aereas S.A. (the “Original Buyer”) have signed on
20 December 2005 (as amended and restated on 21 January 2008) an A350 XWB Purchase Agreement (Reference CSC.337.0179/07) relating
to the purchase by the Original Buyer and the sale by the Seller of certain A350 XWB aircraft as amended pursuant to an amendment
N°1 dated 28 July 2010 (“Amendment N°1”) and an amendment N°2 dated 15 July 2014 (“Amendment
No2”) which, together with all Exhibits, Appendixes and Letter Agreements, is hereinafter referred to as the
“Agreement”.

 

		B-	The Buyer, Seller and Original Buyer entered into a novation agreement dated 21 July 2014 (the
“Novation Agreement”) novating the Agreement from the Original Buyer to the Buyer. The Agreement, as novated
pursuant to the Novation Agreement and as further amended pursuant to an amendment N°3 dated 30 October 2014 (“Amendment
N°3”), an amendment N°4 dated 15 September 2015 (“Amendment N°4”) and the revised scheduled
delivery quarter notification dated 30 September 2015 (the “Rescheduling Notification”), is hereinafter referred
to as the “A350 XWB Purchase Agreement”.

 

		C-	The Buyer and the Seller now wish to enter into this amendment No5 (“Amendment
N°5”) to modify certain terms and conditions of the A350 XWB Purchase Agreement.

 

NOW THEREFORE IT IS AGREED AS FOLLOWS:

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 3 of 10

     

    

 

		1.	SCOPE

 

The
scope of this Amendment N°5
is to [***].

 

		2.	A350XWB AIRCRAFT [***]

 

		2.1	Pursuant to the Amended and Restated Letter
Agreement N°4 to the
A350 XWB Purchase Agreement, the Seller has granted the Buyer the right to [***].

 

			Notwithstanding the foregoing, subject
to the terms and conditions of this Amendment N°5,
the Buyer has requested and the Seller hereby agrees to [***] and to [***] XWB Aircraft in accordance with the following scheduled
delivery [***] (the “New Scheduled Delivery [***]”):

 

	Aircraft
 Rank
 No	 	CACID	 	[***]
 Aircraft
 Type	 	[***]
 Scheduled
 Delivery [***]	 	[***]
 Aircraft
 Type	 	[***]
 Scheduled
 Delivery
 [***]
	16	 	[***]	 	A350- [***] XWB	 	[***]	 	A350-[***] XWB	 	[***]
	17	 	[***]	 	A350-[***] XWB	 	[***]	 	A350-[***]  XWB	 	[***]
	18	 	[***]	 	A350-[***] XWB	 	[***]	 	A350-[***] XWB	 	[***]
	19	 	[***]	 	A350-[***]XWB	 	[***]	 	A350-[***] XWB	 	[***]
	20	 	[***]	 	A350-[***] XWB	 	[***]	 	A350-[***] XWB	 	[***]
	21	 	[***]	 	A350-[***] XWB	 	[***]	 	A350-[***] XWB	 	[***]

 

		2.2	As a result of the [***] as set forth in Clause 2.1 above, it is understood and agreed by the Parties
that [***] under the A350 XWB Purchase Agreement.

 

		3.	TERMS APPLICABLE TO THE [***] A350-[***] XWB AIRCRAFT

 

		3.1	Each [***] A350-[***] XWB Aircraft shall be deemed to be an A350-[***]XWB Aircraft within the meaning
of the A350 XWB Purchase Agreement and, unless otherwise expressly stipulated herein, all terms and conditions applicable to the
A350-[***] XWB Aircraft under the A350 XWB Purchase Agreement shall apply to the [***] A350-[***] XWB Aircraft.

 

		3.2	For the avoidance of doubt, the [***] A350-[***] XWB Aircraft shall not be subject to [***].

 

		4.	A350XWB AIRCRAFT [***] DELIVERY SCHEDULE

 

As
a result of (a) the [***] A350-[***] XWB Aircraft set forth in the [***], (b) the [***] set forth in Clause 2.1 above and (c) the
Parties agreeing to [***], the delivery schedule set forth in Clause 9.1.1 of the A350 XWB Purchase Agreement
(as amended from time to time) shall be hereby cancelled and replaced with the following:

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 4 of 10

     

    

 

	Aircraft Rank	 	New CACID	 	Aircraft Type	 	Delivery Date
	 	 	 	 	 	 	 
	Aircraft N° 1	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 2	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 3	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 4	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 5	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 6	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 7	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 8	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 9	 	[***]	 	A350-[***]XWB	 	[***]
	Aircraft N° 10	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 11	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 12	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 13	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 14	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 15	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 16	 	[***]	 	A350-[***] XWB  	 	[***]
	Aircraft N° 17	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 18	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 19	 	[***]	 	A350-[***] XWB	 	[***]
	 	 	 	 	 	 	 
	Aircraft N° 20	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 21	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 22	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 23	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 24	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 25	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 26	 	[***]	 	A350-[***] XWB	 	[***]
	Aircraft N° 27	 	[***]	 	A350-[***] XWB	 	[***]

 

Subject to its industrial and
commercial constraints, the Seller shall [***].

 

		5.	PREDELIVERY PAYMENTS

 

		5.1	As a consequence of the [***] set forth
in Clause 2.1 above, in respect of each [***] A350-[***] XWB Aircraft, the [***] shall be [***] based on (a) the [***] set out
in Clause 5.3.1.2 of the Agreement (as amended by Letter Agreement No11, and as further amended by Clause 5 of Amendment
N°2) in respect of
A350-[***] XWB Aircraft and (b) the [***] Scheduled Delivery [***] set out in Clause 2.1 hereof. Such Predelivery Payments shall
be made pursuant to the schedule set out in Clause 5.3.2 of the Agreement (as amended by Letter Agreement No11) and
Predelivery Payments in the amount of USD $[***] (United States dollars—[***] becoming due on the date of signature of this
Amendment N°5 as a result of the [***] shall be paid by the Buyer to the Seller on such date.

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 5 of 10

     

    

 

		5.2	Clause 5.3.1.1 of the Agreement, as amended
by Letter Agreement No11, and as further amended by Clause 5 of Amendment N°2,
Clause 2.4 of Amendment N°3
and Clause 5.2 of Amendment N°4,
is hereby cancelled in its entirety and replaced by the following quoted provisions:

 

			QUOTE

 

		5.3.1.1	[***]:

 

[***]

 

			UNQUOTE

 

		5.3	For the avoidance of doubt, Clause 5.3.1.1
of the A350 XWB Purchase Agreement (as amended under Clause 5.2 of this Amendment N°5)
shall not apply to the [***] A350-[***] XWB Aircraft bearing CAC ID [***], [***].

 

		6.	[***]

 

		6.1	[***]

 

[***].

 

		6.2	[***]

 

		 	[***]:

 

		 	[***]

 

		2.1	[***]

 

			[***].

 

[***].

 

		 	[***]

 

		6.3	[***]

[***].

 

		7.	[***]

 

		7.1	[***]:

 

			[***]

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 6 of 10

     

    

 

		7.	[***]

 

[***]:

 

		·	[***]:

 

[***]

 

		·	[***]:

 

[***]

 

[***].

 

[***].

 

[***]

[***]

 

		7.2	[***]

 

[***]:

 

[***]

 

		1.	[***]

 

[***]:

 

		(i)	[***]

 

		(ii)	[***]

 

[***]:

[***]

[***]:

[***]:[***].

[***]:[***].

 

[***]

 

		7.3	[***].

 

		7.4	[***]

 

[***]:

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 7 of 10

     

    

 

		(i)	[***]:

 

[***]

 

[***]

 

		(ii)	[***]:

 

[***]

 

[***].

 

[***].

 

		8.	PERFORMANCE ENGINEER’S PROGRAM

 

[***].

 

		9.	MISCELLANEOUS PROVISIONS

 

If not otherwise expressly stated
in this Amendment N°5, the A350 XWB Purchase Agreement shall apply also to this Amendment N°5.

 

This Amendment N°5 supersedes
any previous understandings, commitments or representations whatsoever oral or written with respect to the matters referred to
herein. This Amendment N°5 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.

 

Capitalized terms used herein
and not otherwise defined herein shall have the meanings assigned thereto in the A350 XWB Purchase Agreement. The terms “herein”,
“hereof” and “hereunder” and words of similar import refer to this Amendment N°5.

 

In the event of any inconsistency
between the A350 XWB Purchase Agreement and this Amendment N°5, the latter shall prevail to the extent of said inconsistency.

 

Save to the extent expressly
amended by the terms of this Amendment N°5, the A350 XWB Purchase Agreement shall remain in full force and effect in accordance
with its terms.

 

This
Amendment N°5 (and its existence) shall be treated by each Party as confidential in accordance with the terms of Clause 22.10
of the A350 XWB Purchase Agreement. 

 

This Amendment N°5 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 Amendment N°5.

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 8 of 10

     

    

 

		10.	LAW AND JURISDICTION

 

This Amendment N°5 shall
be governed by and construed in accordance with the laws of England. Any dispute arising out of or in connection with this Amendment
N°5 shall be within the exclusive jurisdiction of the Courts of England.

 

		11.	SEVERABILITY

 

In the event that any provision
of this Amendment N°5 should for any reason be held ineffective, the remainder of this Amendment N°5 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 N°5 prohibited or unenforceable in any respect. Any provisions of this Amendment N°5 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 Amendment N°5.

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 9 of 10

     

    

 

This Amendment N°5 has been executed
in two (2) original specimens which are in English.

 

IN WITNESS WHEREOF this Amendment
N°5 to the A350 XWB Purchase 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 : 
	 	 
	Title :	Title : 

 

Name:

 

Title

 

Witness

 

Name:

Title:

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

    	Page 10 of 10

     

    

 

	LETTER AGREEMENT N°1

to Amendment N°5	PROPRIETARY AND CONFIDENTIAL

 

LATAM AIRLINES GROUP S.A.

Edificio Huidobro

Avenida Presidente Riesco 5711 - 20th Floor

Las Condes

SANTIAGO

CHILE

 

Subject: Special [***] Right

 

LATAM AIRLINES GROUP S.A. (“the
Buyer”) and AIRBUS S.A.S. (“the Seller”) have entered into an amendment N°5 to the A350 XWB Purchase
Agreement (the “Amendment N°5”) dated as of even date herewith which covers the [***] as described in Amendment
N°5.

 

Capitalized terms used herein and not otherwise
defined in this Letter Agreement shall have the meanings assigned thereto in the Amendment N°5 and/or the A350 XWB Purchase
Agreement, as the case may be.

 

Both parties agree that this Letter Agreement,
upon execution thereof, shall constitute an integral, non-severable part of said Amendment N°5 and shall be governed by all
its provisions, as such provisions have been specifically amended pursuant to this Letter Agreement.

 

Letter Agreement
N°1 to Amendment N°5 - Page 1/4

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

     

     

    

 

	LETTER AGREEMENT N°1

to Amendment N°5	PROPRIETARY AND CONFIDENTIAL

 

		1.	Special [***] Right

 

		1.1	[***].

 

		1.2	[***].

 

			[***]

 

		1.3	[***].

 

		1.4	[***].

 

[***].

 

[***].

 

		1.5	[***].

 

		2.	Assignment

 

			Notwithstanding any other provision of this Letter Agreement or of the A350 XWB Purchase 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.	Confidentiality

 

			This Letter Agreement is subject to the terms and conditions of Clause 22.10 of the A350 XWB Purchase
Agreement.

 

		4.	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.

 

		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.

 

Letter
Agreement N°1 to Amendment N°5 - Page 2/4

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

     

     

    

 

	LETTER AGREEMENT N°1

to Amendment N°5	PROPRIETARY AND CONFIDENTIAL

 

		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.

 

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.

 

Letter Agreement
N°1 to Amendment N°5 - Page 3/4

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.

 

     

     

    

 

	LETTER AGREEMENT N°1

to Amendment N°5	PROPRIETARY AND CONFIDENTIAL

 

	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 :
	 	 
	Title :	Title :
	 	 
	Date :	Date  :

 

Name :

 

Title :

 

Date :

 

Witness

 

Name :

 

Title :

 

Letter Agreement
N°1 to Amendment N°5 - Page 4/4

 

“[***]” This information is subject to confidential treatment and has been omitted and filed
separately with the commission.Exhibit 4.33.2

  

EXECUTION

 

AMENDMENT N°20

 

TO THE A320/A330

 

PURCHASE AGREEMENT

 

BETWEEN

 

AIRBUS S.A.S.

 

AND

 

LATAM AIRLINES GROUP S.A.

 

REF: CT1242567

 

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

   

    	Page 1 of 9 

     

    

  

EXECUTION

 

AMENDMENT N°20

 

TO THE

 

A320/A330 PURCHASE AGREEMENT

 

This Amendment No. 20 is made as of the 3rd
day of June 2015 to the A320/A330 Purchase Agreement signed on November 14, 2006 (as subsequently amended, supplemented, novated
or otherwise modified),

 

Between

 

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

 

1, rond-point Maurice Bellonte

31707 BLAGNAC CEDEX

FRANCE

 

and registered with the Toulouse Registre du Commerce under number
RCS Toulouse 383 474 814 (hereinafter referred to as the “Seller”),

 

AND

 

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

 

Edificio Huidobro

Avenida Presidente Riesco 5711 – 20th
Floor

Las Condes

SANTIAGO

CHILE

 

(hereinafter referred to as “Buyer”).

 

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

 

 “[***]” This information is subject to confidential treatment and has been omitted and filed separately
with the commission. 

 

    	Page 2 of 9 

     

    

  

EXECUTION

 

WHEREAS

 

		A-	The Seller and TAM Linhas Aereas S.A. (“TAM”) have signed on November 14, 2006,
an A320/A330 Purchase Agreement (Reference CCC 337.0068/06) covering the purchase by TAM 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 January 12, 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.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.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, Amendment No. 18, dated as
of July 15, 2014 and Amendment No. 19, dated as of December 11, 2014 incorporated therein is hereinafter referred to as the “Original
Agreement”.

 

		B-	TAM, the Seller and the Buyer entered into a novation agreement dated 30 October 2014 (the “Novation”)
novating the Original Agreement from TAM to the Buyer (the Original Agreement as novated pursuant to the Novation is hereinafter
referred to as the “Purchase Agreement”).

 

		C-	The Seller and the Buyer have agreed to reschedule one (1) A321 Aircraft as specified herein.

 

NOW THEREFORE IT IS AGREED AS
FOLLOWS:

 

1. A320 FAMILY RESCHEDULING

 

		1.1	The Parties have agreed to reschedule the delivery of one (1) A321 Aircraft identified by rank
number 136 as follows:

 

	Aircraft 

Rank	 	Original 

Scheduled 

Delivery Month	 	Revised 

Scheduled 

Delivery Month	 	Aircraft 

Type	 	Aircraft Batch
	136	 	[***]	 	[***]	 	A321	 	[***]

 

		1.2	As a result of the rescheduling set forth in 1.1 above, Clause 9.1.1.1 of the Purchase Agreement
is hereby replaced with the following:

 

QUOTE

 

  

“[***]” This information is subject to confidential treatment and has been omitted and filed separately
with the commission.

 

    	Page 3 of 9 

     

    

  

EXECUTION

 

9.1.1.1 A319 / A320 / A321
Aircraft

 

	Aircraft Rank	 	Aircraft 

Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 64	 	A321	 	Aug-07	 	 
	- Aircraft N° 65	 	A321	 	Aug-07	 	 
	- Aircraft N° 66	 	A320	 	Oct-07	 	 
	- Aircraft N° 67	 	A320	 	Oct-07	 	 
	- Aircraft N° 68	 	A321	 	Nov-07	 	 
	- Aircraft N° 69	 	A319	 	Nov-08	 	 
	- Aircraft N° 70	 	A319	 	Jul-08	 	 
	- Aircraft N° 71	 	A319	 	Aug-08	 	 
	- Aircraft N° 72	 	A321	 	Feb-09	 	 
	- Aircraft N° 73	 	A321	 	Jan-09	 	 
	- Aircraft N° 74	 	A321	 	Mar-13	 	 
	- Aircraft N° 75	 	A320 	 	May-09	 	 
	- Aircraft N° 76	 	A320 	 	Dec-11	 	 
	- Aircraft N° 77	 	A321 	 	Jan-11	 	 
	- Aircraft N° 78	 	A320 	 	Dec-11	 	 
	- Aircraft N° 79	 	A321	 	Apr-11	 	 
	- Aircraft N° 80	 	A321 	 	Jun-10	 	 
	- Aircraft N° 81	 	A319 	 	Jan-10	 	 
	- Aircraft N° 82	 	A319	 	Jul-11	 	 
	- Aircraft N° 83	 	A319 	 	Jun-11	 	 
	- Aircraft N° 84	 	A321 	 	Jun-10	 	 
	- Aircraft N° 85	 	A320	 	Mar-12	 	 
	- Aircraft N° 86	 	A320	 	Feb-12	 	 
	- Aircraft N° 87	 	A320	 	Jun-13	 	 
	- Aircraft N° 88	 	A320	 	Nov-13	 	 
	- Aircraft N° 89	 	A319	 	Jun-11	 	 
	- Aircraft N° 90	 	A320	 	Jul-12	 	 
	- Aircraft N° 91	 	A320	 	Mar-12	 	 
	- Aircraft N° 92	 	A320 	 	Oct-10	 	 
	- Aircraft N° 93	 	A320	 	Jun-12	 	 
	- Aircraft N° 94	 	A320	 	Nov-13	 	 
	- Aircraft N° 95	 	A320	 	Aug-12	 	Aircraft Nos 95-114
	- Aircraft N° 96	 	A321	 	July 2015	 	Aircraft Nos 95-114
	- Aircraft N° 97	 	A320	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 98	 	A320	 	Mar-14	 	Aircraft Nos 95-114
	- Aircraft N° 99	 	A320	 	Nov-13	 	Aircraft Nos 95-114
	- Aircraft N° 100	 	A320	 	Aug-13	 	Aircraft Nos 95-114
	- Aircraft N° 101	 	A320	 	May-13	 	Aircraft Nos 95-114
	- Aircraft N° 102	 	A320	 	Jun-13	 	Aircraft Nos 95-114
	- Aircraft N° 103	 	A320	 	Apr-13	 	Aircraft Nos 95-114

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately
with the commission.

 

    	Page 4 of 9 

     

    

  

EXECUTION

 

	Aircraft Rank	 	Aircraft 

Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 104	 	A320	 	Jul-13	 	Aircraft Nos 95-114
	- Aircraft N° 105	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 106	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 107	 	A320	 	May-14	 	Aircraft Nos 95-114
	- Aircraft N° 108	 	A320	 	Oct-13	 	Aircraft Nos 95-114
	- Aircraft N° 109	 	A320	 	Jun-14	 	Aircraft Nos 95-114
	- Aircraft N° 110	 	A319	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 111	 	A320	 	May-12	 	Aircraft Nos 95-114
	- Aircraft N° 112	 	A321	 	4th Quarter 2015	 	Aircraft Nos 95-114
	- Aircraft N° 113	 	A320	 	Mar-12	 	Aircraft Nos 95-114
	- Aircraft N° 114	 	A321	 	4th Quarter 2015	 	Aircraft Nos 95-114
	- Aircraft N° 115	 	A321 	 	Jan-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 116	 	A320	 	Feb-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 117	 	A320	 	Mar-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 118	 	A321	 	May-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 119	 	A321 	 	July 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 120	 	A321	 	February 2016	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 121	 	A321	 	Nov-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 122	 	A321	 	[***]	 	[***]
	- Aircraft N° 123	 	A321	 	May 2016	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 124	 	A321	 	Dec-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 125	 	A321	 	[***]	 	[***]
	- Aircraft N° 126	 	A321	 	[***]	 	[***]
	- Aircraft N° 127	 	A321 	 	Feb-15	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 128	 	A321 	 	[***]	 	[***]
	- Aircraft N° 129	 	A321	 	[***]	 	[***]
	- Aircraft N° 130	 	A321	 	[***]	 	[***]
	- Aircraft N° 131	 	A321 	 	May 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 133	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 134	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft

 

 “[***]”  This information is subject to confidential treatment and has been omitted and filed separately
with the commission.

 

    	Page 5 of 9 

     

    

  

EXECUTION

 

	Aircraft Rank	 	Aircraft 

Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 135	 	A321	 	March 2016	 	2011 A320 Family Incremental Aircraft
	- Aircraft N° 136	 	A321	 	[***]	 	[***]
	- Aircraft N° 137	 	A321	 	[***]	 	[***]
	- Aircraft N° 138	 	A321	 	[***]	 	[***]
	- Aircraft N° 139	 	A321	 	[***]	 	[***]
	- Aircraft N° 140	 	A321	 	[***]	 	[***]
	 	 	 	 	 	 	 
	- [***] Aircraft N° 132	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 141	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 142	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 143	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 144	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 145	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 146	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 147	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 148	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 149	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 150	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 151	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 152	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 153	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 154	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 155	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 156	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 157	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 158	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 159	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 160	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 161	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 162	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 163	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 164	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 165	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 166	 	A321	 	[***]	 	[***]

 

UNQUOTE

 

“[***]” This information is subject to
confidential treatment and has been omitted and filed separately with the commission. 

 

    	Page 6 of 9 

     

    

  

EXECUTION

 

		2.	CONFIDENTIALITY

 

This Amendment No. 20 is subject
to the confidentiality provisions set forth in Clause 22.10 of the Purchase Agreement.

 

		3.	LAW AND JURISDICTION

 

This Amendment No. 20 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. 20
shall be within the exclusive jurisdiction of the Courts of England.

 

		4.	MISCELLANEOUS PROVISIONS

 

If not otherwise
expressly stated in this Amendment No. 20, the Purchase Agreement, its Exhibits and Letter Agreements shall apply also to this
Amendment No 20.

 

This Amendment
No. 20 supersedes any previous understandings, commitments or representations whatsoever oral or written with respect to the matters
referred to herein.

 

The Purchase
Agreement shall be deemed amended to the extent herein provided, and, except as specifically amended hereby, shall continue in
full force and effect in accordance with their original terms.

 

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

 

In the event
of any inconsistency between the Purchase Agreement and the present Amendment No. 20, the latter shall prevail to the extent of
said inconsistency.

 

This Amendment No. 20 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.

 

		5.	SEVERABILITY

 

In the event that any provision of
this Amendment No. 20 should for any reason be held ineffective, the remainder of this Amendment No. 20 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. 20 prohibited or unenforceable in any respect. Any provisions of this Amendment No. 20 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 Amendment No. 20.

  

“[***]” This information is subject to confidential treatment and has been omitted and filed separately
with the commission.

 

    	Page 7 of 9 

     

    

  

EXECUTION

 

This Amendment No. 20 has been executed in
two (2) original specimens which are in English.

  

“[***]” This information is subject to confidential treatment and has been omitted and filed separately
with the commission.

 

    	Page 8 of 9 

     

    

  

IN WITNESS WHEREOF this Amendment No.
20 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	:
	 	 	 	 	 
	Title	:	 	Title	:

 

LATAM AIRLINES GROUP S.A.

 

	Name	:	 
	 	 	 
	Title	:	 

 

Witness

 

	Name	:	 
	 	 	 
	Title	:	 

  

     

         

    

  

AMENDMENT
N°21

 

TO THE A320/A330

 

PURCHASE AGREEMENT

 

BETWEEN

 

AIRBUS S.A.S.

 

AND

 

LATAM AIRLINES GROUP S.A.

 

REF: CT1242567

 

“[***]” This information
is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 1 of 9

     

    

 

AMENDMENT N°21

 

TO THE

 

A320/A330 PURCHASE AGREEMENT

 

This Amendment No.21 is made as of the
21st day of December 2015 to the A320/A330 Purchase Agreement signed on November 14, 2006 (as subsequently amended,
supplemented, novated or otherwise modified),

 

Between

 

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

 

	 	1, rond-point Maurice Bellonte
	 	U31707 BLAGNAC CEDEX
	 	 
	 	FRANCE

 

and registered with the Toulouse Registre du Commerce under
number RCS Toulouse 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".

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 2 of 9

     

    

  

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
January 5, 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.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.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, Amendment No. 18, dated as of July 15, 2014, incorporated therein is hereinafter referred to as the "Original
Agreement".

 

		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-	Pursuant to an Amendment No. 19, dated as of December 11, 2014 and Amendment No. 20, dated as of
June 3, 2015 the Seller and the Buyer amended the Original Agreement (the “Amendments”), (the Original Agreement
as novated pursuant to the Novation and amended pursuant to the Amendments is hereinafter referred to as the “Agreement”).

 

		D-	The Buyer and the Seller have agreed i) for the Seller to use one A320 NEO Aircraft scheduled to
be delivered to the Buyer under the Agreement for a series of flight tests [***], and ii) to reschedule the Delivery
of one A320 NEO Aircraft.

 

NOW THEREFORE IT IS AGREED
AS FOLLOWS:

 

		1.	A320 NEO FLIGHT TEST AIRCRAFT

 

		1.1	Notwithstanding anything in the Agreement to the contrary, including without limitation, the provisions
of Clause 8.4 thereof, the Parties hereby acknowledge and agree to the Seller’s use of the Aircraft bearing rank No. [***]
in the Agreement with a Scheduled Delivery [***] in [***] (the “Flight Test Aircraft”) for a series of flight
tests as described in Clause 1.2 below (the “Flight Tests”) [***]

 

		1.2	[***].

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 3 of 9

     

    

 

[***].

 

[***].

 

		1.3	[***].

 

		1.4	[***].

 

		1.5	[***].

 

[***].

 

[***].

 

[***].

 

[***].

 

[***].

 

		1.6	[***]:

 

		(i)	[***]

		(ii)	[***].

 

[***].

 

		1.7	[***].

 

		1.8	[***].

 

			[***].

 

		2.	A320 FAMILY RESCHEDULING

 

		2.1	The Parties agree to reschedule the delivery of two (2) A320neo Aircraft identified by rank numbers
145 and 146 as follows:

 

	Aircraft

Rank	 	Original

Scheduled

Delivery Month	 	Revised

Scheduled

Delivery Month	 	Aircraft

Type	 	Aircraft Batch
	145	 	[***]	 	[***]	 	A320	 	[***]
	146	 	[***]	 	[***]	 	A320	 	[***]

 

“[***]”
This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 4 of 9

     

    

 

		2.2	Clause 9.1.1.1 of the Agreement is hereby amended and restated as follows:

 

QUOTE

 

		9.1.1.1	A319 / A320 / A321 Aircraft

 

	Aircraft Rank	 	Aircraft Type	 	Delivery Month/Quarter	 	Aircraft defined as
	- Aircraft N° 64	 	A321	 	Aug-07	 	 
	- Aircraft N° 65	 	A321	 	Aug-07	 	 
	- Aircraft N° 66	 	A320	 	Oct-07	 	 
	- Aircraft N° 67	 	A320	 	Oct-07	 	 
	- Aircraft N° 68	 	A321	 	Nov-07	 	 
	- Aircraft N° 69	 	A319	 	Nov-08	 	 
	- Aircraft N° 70	 	A319	 	Jul-08	 	 
	- Aircraft N° 71	 	A319	 	Aug-08	 	 
	- Aircraft N° 72	 	A321	 	Feb-09	 	 
	- Aircraft N° 73	 	A321	 	Jan-09	 	 
	- Aircraft N° 74	 	A321	 	Mar-13	 	 
	- Aircraft N° 75	 	A320 	 	May-09	 	 
	- Aircraft N° 76	 	A320 	 	Dec-11	 	 
	- Aircraft N° 77	 	A321 	 	Jan-11	 	 
	- Aircraft N° 78	 	A320 	 	Dec-11	 	 
	- Aircraft N° 79	 	A321	 	Apr-11	 	 
	- Aircraft N° 80	 	A321 	 	Jun-10	 	 
	- Aircraft N° 81	 	A319 	 	Jan-10	 	 
	- Aircraft N° 82	 	A319	 	Jul-11	 	 
	- Aircraft N° 83	 	A319 	 	Jun-11	 	 
	- Aircraft N° 84	 	A321 	 	Jun-10	 	 
	- Aircraft N° 85	 	A320	 	Mar-12	 	 
	- Aircraft N° 86	 	A320	 	Feb-12	 	 
	- Aircraft N° 87	 	A320	 	Jun-13	 	 
	- Aircraft N° 88	 	A320	 	Nov-13	 	 
	- Aircraft N° 89	 	A319	 	Jun-11	 	 
	- Aircraft N° 90	 	A320	 	Jul-12	 	 
	- Aircraft N° 91	 	A320	 	Mar-12	 	 
	- Aircraft N° 92	 	A320 	 	Oct-10	 	 
	- Aircraft N° 93	 	A320	 	Jun-12	 	 
	- Aircraft N° 94	 	A320	 	Nov-13	 	 
	- Aircraft N° 95	 	A320	 	Aug-12	 	Aircraft Nos 95-114
	- Aircraft N° 96	 	A321	 	July 2015	 	Aircraft Nos 95-114
	- Aircraft N° 97	 	A320	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 98	 	A320	 	Mar-14	 	Aircraft Nos 95-114
	- Aircraft N° 99	 	A320	 	Nov-13	 	Aircraft Nos 95-114
	- Aircraft N° 100	 	A320	 	Aug-13	 	Aircraft Nos 95-114
	- Aircraft N° 101	 	A320	 	May-13	 	Aircraft Nos 95-114

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 5 of 9

     

    

 

 

	Aircraft Rank	 	Aircraft Type	 	Delivery Month/Quarter	 	Aircraft defined as
	- Aircraft N° 102	 	A320	 	Jun-13	 	Aircraft Nos 95-114
	- Aircraft N° 103	 	A320	 	Apr-13	 	Aircraft Nos 95-114
	- Aircraft N° 104	 	A320	 	Jul-13	 	Aircraft Nos 95-114
	- Aircraft N° 105	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 106	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 107	 	A320	 	May-14	 	Aircraft Nos 95-114
	- Aircraft N° 108	 	A320	 	Oct-13	 	Aircraft Nos 95-114
	- Aircraft N° 109	 	A320	 	Jun-14	 	Aircraft Nos 95-114
	- Aircraft N° 110	 	A319	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 111	 	A320	 	May-12	 	Aircraft Nos 95-114
	- Aircraft N° 112	 	A321	 	October 2015	 	Aircraft Nos 95-114
	- Aircraft N° 113	 	A320	 	Mar-12	 	Aircraft Nos 95-114
	- Aircraft N° 114	 	A321	 	December 2015	 	Aircraft Nos 95-114
	- Aircraft N° 115	 	A321 	 	Jan-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 116	 	A320	 	Feb-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 117	 	A320	 	Mar-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 118	 	A321	 	May-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 119	 	A321 	 	July 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 120	 	A321	 	February 2016	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 121	 	A321	 	Nov-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 122	 	A321	 	[***]	 	[***]
	- Aircraft N° 123	 	A321	 	[***]	 	[***]
	- Aircraft N° 124	 	A321	 	Dec-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 125	 	A321	 	[***]	 	[***]
	- Aircraft N° 126	 	A321	 	[***]	 	[***]
	- Aircraft N° 127	 	A321 	 	Feb-15	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 128	 	A321 	 	[***]	 	[***]
	- Aircraft N° 129	 	A321	 	[***]	 	[***]
	- Aircraft N° 130	 	A321	 	[***]	 	[***]
	- Aircraft N° 131	 	A321 	 	May 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 133	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 6 of 9

     

    

 

	Aircraft Rank	 	Aircraft Type	 	Delivery Month/Quarter	 	Aircraft defined as
	- Aircraft N° 134	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 135	 	A321	 	March 2016	 	2011 A320 Family Incremental Aircraft
	- Aircraft N° 136	 	A321	 	[***]	 	[***]
	- Aircraft N° 137	 	A321	 	[***]	 	[***]
	- Aircraft N° 138	 	A321	 	[***]	 	[***]
	- Aircraft N° 139	 	A321	 	[***]	 	[***]
	- Aircraft N° 140	 	A321	 	[***]	 	[***]
	 	 	 	 	 	 	 
	- [***] Aircraft N° 132	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 141	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 142	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 143	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 144	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 145	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 146	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 147	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 148	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 149	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 150	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 151	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 152	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 153	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 154	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 155	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 156	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 157	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 158	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 159	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 160	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 161	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 162	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 163	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 164	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 165	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 166	 	A321	 	[***]	 	[***]

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 7 of 9

     

    

 

UNQUOTE

 

		3.	EXHIBIT A Part 1 – Seller Price Revision Formula

 

In Clause 3 of Part 1 of Exhibit
A to Amendment No. 11 to the Agreement the reference to “Table 6” is hereby replaced with “Table 9”.

 

		4.	CONFIDENTIALITY

 

			This Amendment No. 21 is subject to the confidentiality provisions set forth in Clause 22.10 of the Agreement.

 

		5.	LAW AND JURISDICTION

 

This Amendment No. 21 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. 21 shall be within the exclusive jurisdiction of the Courts of England.

 

		6.	MISCELLANEOUS PROVISIONS

 

If not otherwise
expressly stated in this Amendment No. 21, the Agreement, its Exhibits and Letter Agreements shall apply also to this Amendment
No 21.

 

This Amendment
No. 21 supersedes any previous understandings, commitments or representations whatsoever oral or written with respect to the matters
referred to herein.

 

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

 

Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned thereto in the Agreement.

 

In the event
of any inconsistency between the Agreement and the present Amendment No. 21, the latter shall prevail to the extent of said inconsistency.

 

This Amendment No. 21 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.

 

		7.	SEVERABILITY

 

In the event that any provision
of this Amendment No. 21 should for any reason be held ineffective, the remainder of this Amendment No. 21 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. 21 prohibited or unenforceable in any respect. Any provisions of this Amendment No. 21 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 Amendment No. 21.

 

This Amendment No. 21 has been executed in two (2) original
specimens which are in English.

 

“[***]” This information is subject to confidential treatment and has been omitted and filed separately with the commission.

 

    Page 8 of 9

     

    

 

IN WITNESS WHEREOF this Amendment No. 21 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     :
	 	 
	Title       :	Title       :
	 	 
	LATAM AIRLINES GROUP S.A.	 
	 	 
	Name     :	 
	 	 
	Title       :	 
	 	 
	Witness	 
	 	 
	Name     :	 
	 	 
	Title       :	 

 

 

    

     

    

 

 

 

AMENDMENT N°21

 

TO THE A320/A330

 

PURCHASE AGREEMENT

 

BETWEEN

 

AIRBUS S.A.S.

 

AND

 

LATAM AIRLINES GROUP S.A.

 

REF: CT1242567

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 1 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

AMENDMENT N°21

 

TO THE

 

A320/A330 PURCHASE AGREEMENT

 

This Amendment No.21 is made as of the
21st day of December 2015 to the A320/A330 Purchase Agreement signed on November 14, 2006 (as subsequently amended,
supplemented, novated or otherwise modified),

 

Between

 

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

 

1, rond-point Maurice Bellonte

U31707 BLAGNAC CEDEX

 

FRANCE

 

and registered with the Toulouse Registre du Commerce under
number RCS Toulouse 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".

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 2 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

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
January 5, 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.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.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, Amendment No. 18, dated as of July 15, 2014, incorporated therein is hereinafter referred to as the "Original
Agreement".

 

		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-	Pursuant to an Amendment No. 19, dated as of December 11, 2014 and Amendment No. 20, dated as of
June 3, 2015 the Seller and the Buyer amended the Original Agreement (the “Amendments”), (the Original Agreement
as novated pursuant to the Novation and amended pursuant to the Amendments is hereinafter referred to as the “Agreement”).

 

		D-	The Buyer and the Seller have agreed i) for the Seller to use one A320 NEO Aircraft scheduled to
be delivered to the Buyer under the Agreement for a series of flight tests [***], and ii) to reschedule the Delivery
of one A320 NEO Aircraft.

 

NOW THEREFORE IT IS AGREED
AS FOLLOWS:

 

		1.	A320 NEO FLIGHT TEST AIRCRAFT

 

		1.1	Notwithstanding anything in the Agreement to the contrary, including without limitation, the provisions
of Clause 8.4 thereof, the Parties hereby acknowledge and agree to the Seller’s use of the Aircraft bearing rank No. [***]
in the Agreement with a Scheduled Delivery [***] in [***] (the “Flight Test Aircraft”) for a series of flight
tests as described in Clause 1.2 below (the “Flight Tests”) [***]

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 3 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

		1.2	[***].

 

[***].

 

[***].

 

		1.3	[***].

 

		1.4	[***].

 

		1.5	[***].

 

[***].

 

[***].

 

[***].

 

[***].

 

[***].

 

		1.6	[***]:

 

		(i)	[***]

		(ii)	[***].

 

[***].

 

		1.7	[***].

 

		1.8	[***].

 

[***].

 

		2.	A320 FAMILY RESCHEDULING

 

		2.1	The Parties agree to reschedule the delivery of two (2) A320neo Aircraft identified by rank numbers
145 and 146 as follows:

 

	Aircraft

Rank	 	Original

Scheduled

Delivery Month	 	Revised

Scheduled

Delivery Month	 	Aircraft

Type	 	Aircraft Batch
	145	 	[***]	 	[***]	 	A320	 	[***]
	146	 	[***]	 	[***]	 	A320	 	[***]

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 4 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

		2.2	Clause 9.1.1.1 of the Agreement is hereby amended and restated as follows:

 

QUOTE

 

		9.1.1.1	A319 / A320 / A321 Aircraft

 

	Aircraft Rank	 	Aircraft

 Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 64	 	A321	 	Aug-07	 	 
	- Aircraft N° 65	 	A321	 	Aug-07	 	 
	- Aircraft N° 66	 	A320	 	Oct-07	 	 
	- Aircraft N° 67	 	A320	 	Oct-07	 	 
	- Aircraft N° 68	 	A321	 	Nov-07	 	 
	- Aircraft N° 69	 	A319	 	Nov-08	 	 
	- Aircraft N° 70	 	A319	 	Jul-08	 	 
	- Aircraft N° 71	 	A319	 	Aug-08	 	 
	- Aircraft N° 72	 	A321	 	Feb-09	 	 
	- Aircraft N° 73	 	A321	 	Jan-09	 	 
	- Aircraft N° 74	 	A321	 	Mar-13	 	 
	- Aircraft N° 75	 	A320 	 	May-09	 	 
	- Aircraft N° 76	 	A320 	 	Dec-11	 	 
	- Aircraft N° 77	 	A321 	 	Jan-11	 	 
	- Aircraft N° 78	 	A320 	 	Dec-11	 	 
	- Aircraft N° 79	 	A321	 	Apr-11	 	 
	- Aircraft N° 80	 	A321 	 	Jun-10	 	 
	- Aircraft N° 81	 	A319 	 	Jan-10	 	 
	- Aircraft N° 82	 	A319	 	Jul-11	 	 
	- Aircraft N° 83	 	A319 	 	Jun-11	 	 
	- Aircraft N° 84	 	A321 	 	Jun-10	 	 
	- Aircraft N° 85	 	A320	 	Mar-12	 	 
	- Aircraft N° 86	 	A320	 	Feb-12	 	 
	- Aircraft N° 87	 	A320	 	Jun-13	 	 
	- Aircraft N° 88	 	A320	 	Nov-13	 	 
	- Aircraft N° 89	 	A319	 	Jun-11	 	 
	- Aircraft N° 90	 	A320	 	Jul-12	 	 
	- Aircraft N° 91	 	A320	 	Mar-12	 	 
	- Aircraft N° 92	 	A320 	 	Oct-10	 	 
	- Aircraft N° 93	 	A320	 	Jun-12	 	 
	- Aircraft N° 94	 	A320	 	Nov-13	 	 
	- Aircraft N° 95	 	A320	 	Aug-12	 	Aircraft Nos 95-114
	- Aircraft N° 96	 	A321	 	July 2015	 	Aircraft Nos 95-114
	- Aircraft N° 97	 	A320	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 98	 	A320	 	Mar-14	 	Aircraft Nos 95-114
	- Aircraft N° 99	 	A320	 	Nov-13	 	Aircraft Nos 95-114
	- Aircraft N° 100	 	A320	 	Aug-13	 	Aircraft Nos 95-114
	- Aircraft N° 101	 	A320	 	May-13	 	Aircraft Nos 95-114

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 5 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

	Aircraft Rank	 	Aircraft 

Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 102	 	A320	 	Jun-13	 	Aircraft Nos 95-114
	- Aircraft N° 103	 	A320	 	Apr-13	 	Aircraft Nos 95-114
	- Aircraft N° 104	 	A320	 	Jul-13	 	Aircraft Nos 95-114
	- Aircraft N° 105	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 106	 	A320	 	Sep-13	 	Aircraft Nos 95-114
	- Aircraft N° 107	 	A320	 	May-14	 	Aircraft Nos 95-114
	- Aircraft N° 108	 	A320	 	Oct-13	 	Aircraft Nos 95-114
	- Aircraft N° 109	 	A320	 	Jun-14	 	Aircraft Nos 95-114
	- Aircraft N° 110	 	A319	 	Oct-12	 	Aircraft Nos 95-114
	- Aircraft N° 111	 	A320	 	May-12	 	Aircraft Nos 95-114
	- Aircraft N° 112	 	A321	 	October 2015	 	Aircraft Nos 95-114
	- Aircraft N° 113	 	A320	 	Mar-12	 	Aircraft Nos 95-114
	- Aircraft N° 114	 	A321	 	December 2015	 	Aircraft Nos 95-114
	- Aircraft N° 115	 	A321 	 	Jan-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 116	 	A320	 	Feb-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 117	 	A320	 	Mar-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 118	 	A321	 	May-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 119	 	A321 	 	July 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 120	 	A321	 	February 2016	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 121	 	A321	 	Nov-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 122	 	A321	 	[***]	 	[***]
	- Aircraft N° 123	 	A321	 	[***]	 	[***]
	- Aircraft N° 124	 	A321	 	Dec-14	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 125	 	A321	 	[***]	 	[***]
	- Aircraft N° 126	 	A321	 	[***]	 	[***]
	- Aircraft N° 127	 	A321 	 	Feb-15	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 128	 	A321 	 	[***]	 	[***]
	- Aircraft N° 129	 	A321	 	[***]	 	[***]
	- Aircraft N° 130	 	A321	 	[***]	 	[***]
	- Aircraft N° 131	 	A321 	 	May 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 133	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 6 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

	Aircraft Rank	 	Aircraft 

Type	 	Delivery 

Month/Quarter	 	Aircraft defined as
	- Aircraft N° 134	 	A321	 	August 2015	 	2010 A320 Family Incremental Aircraft
	- Aircraft N° 135	 	A321	 	March 2016	 	2011 A320 Family Incremental Aircraft
	- Aircraft N° 136	 	A321	 	[***]	 	[***]
	- Aircraft N° 137	 	A321	 	[***]	 	[***]
	- Aircraft N° 138	 	A321	 	[***]	 	[***]
	- Aircraft N° 139	 	A321	 	[***]	 	[***]
	- Aircraft N° 140	 	A321	 	[***]	 	[***]
	 	 	 	 	 	 	 
	- [***] Aircraft N° 132	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 141	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 142	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 143	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 144	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 145	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 146	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 147	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 148	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 149	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 150	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 151	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 152	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 153	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 154	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 155	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 156	 	A320	 	[***]	 	[***]
	- [***]Aircraft N° 157	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 158	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 159	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 160	 	A320	 	[***]	 	[***]
	- [***] Aircraft N° 161	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 162	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 163	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 164	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 165	 	A321	 	[***]	 	[***]
	- [***] Aircraft N° 166	 	A321	 	[***]	 	[***]

 

UNQUOTE

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 7 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

		3.	EXHIBIT A Part 1 – Seller Price Revision Formula

 

In Clause 3 of Part 1 of Exhibit
A to Amendment No. 11 to the Agreement the reference to “Table 6” is hereby replaced with “Table 9”.

 

		4.	CONFIDENTIALITY

 

			This Amendment No. 21 is subject to the confidentiality provisions set forth in Clause 22.10 of the Agreement.

 

		5.	LAW AND JURISDICTION

 

This Amendment No. 21 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. 21 shall be within the exclusive jurisdiction of the Courts of England.

 

		6.	MISCELLANEOUS PROVISIONS

 

If not otherwise
expressly stated in this Amendment No. 21, the Agreement, its Exhibits and Letter Agreements shall apply also to this Amendment
No 21.

 

This Amendment
No. 21 supersedes any previous understandings, commitments or representations whatsoever oral or written with respect to the matters
referred to herein.

 

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

 

Capitalized
terms used herein and not otherwise defined herein shall have the meanings assigned thereto in the Agreement.

 

In the event
of any inconsistency between the Agreement and the present Amendment No. 21, the latter shall prevail to the extent of said inconsistency.

 

This Amendment No. 21 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.

 

		7.	SEVERABILITY

 

In the event that any provision
of this Amendment No. 21 should for any reason be held ineffective, the remainder of this Amendment No. 21 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. 21 prohibited or unenforceable in any respect. Any provisions of this Amendment No. 21 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 Amendment No. 21.

 

This Amendment No. 21 has been executed in two (2) original
specimens which are in English.

 

	A320/A330 PA – LATAM – Amdt. 21 – CT1242567- 12/2015	Page 8 of 9

“[***]” This information is subject to confidential
treatment and has been omitted and filed separately with the commission.

 

    	 	 	 

     

    

 

IN WITNESS WHEREOF this Amendment No. 21 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	:	 
	 	 	 	 	 	 	 
	Title	:	                        	 	Title	:	             
	 	 	 
	LATAM AIRLINES GROUP S.A.	 	 
	 	 	 	 	 
	Name	:	 	 	 
	 	 	 	 	 
	Title	:	 	 	 
	 	 	 
	Witness	 	 
	 	 	 	 	 
	Name	:	 	 	 
	 	 	 	 	 
	Title	:	 	 	 

 

A320/A330 PA – LATAM – Amdt. 21 – CT1242567-
12/2015

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