Document:

Promise to Sell dated as of January 25, 2011

			
	EXECUTION VERSION	  	Exhibit 4.17

 PURCHASE PROMISE 
 This Purchase Promise (hereinafter this “Promise”) is made January 24, 2011 by and between: 
 (1) LAN Cargo S.A., a stock corporation incorporated and existing according to the laws of the Republic of Chile, domiciled, for these purposes, at Avenida Presidente Riesco 571, 19th floor, Las
Condes, Santiago, Chile (hereinafter also “LAN Cargo”); 
 (2) Inversiones LAN S.A., a stock corporation
incorporated and existing according to the laws of the Republic of Chile, domiciled, for these purposes, at Avenida Presidente Riesco 5711, 19th floor, Las Condes, Santiago, Chile (hereinafter also “Inverlan” and, together with LAN
Cargo, the “Promising Sellers”); and 
 (3) Bethia S.A., a stock corporation incorporated and existing
according to the laws of the Republic of Chile, domiciled, for these purposes, at Avenida Kennedy 5454, Suite 902, Vitacura, Santiago, Republic of Chile (hereinafter also “Bethia”). 

WHEREAS 
 A. Blue Express
Intl. S.A. (hereinafter “Blue Express Intl.”) is a stock corporation incorporated and existing according to the laws of the Republic of Chile. Blue Express Intl. (originally called Lan Courier S.A.) was incorporated by public deed dated
April 12, 1996, executed in the Santiago Notarial Office of Mr. Gonzalo de la Cuadra Fabres. An abstract of that deed was registered on page 11,305, number 9,179, of the 1996 Santiago Commercial Registry and was published in Official
Gazette #35459 on May 6, 1996. Its capital is divided into 8,838,645 common shares with no par value that are fully subscribed and paid in. LAN Cargo owns 8,837,860 shares, representing approximately 99.9911% of the capital, while Inverlan owns
785 shares, representing approximately 0.0089% of the capital (all such shares hereinafter called the “Blue Express Intl. Shares”). 
 B. Blue Express S.A. is a stock corporation incorporated and existing according to the laws of the Republic of Chile (hereinafter also “Blue Express”). Blue Express (originally called Lan
Courier Staff S.A.) was incorporated by public deed dated October 31, 2000, executed in the Santiago Notarial Office of Mr. Eduardo Pinto Peralta. An abstract of that deed was registered on page 29,855, number 23,760, of the 2000 Santiago
Commercial Registry and was published in Official Gazette #36814 on November 16, 2000. Its capital is divided into 100 common shares with no par value that are fully subscribed and paid in. Blue Express Intl. owns 99 shares in Blue Express,
representing 99% of the capital, while Lan Cargo owns the remaining share representing 1% of the capital (all such shares hereinafter called the “Blue Express Shares” and together with the Blue Express Intl. Shares, the
“Shares”). 

 EXECUTION VERSION 
  

C. The Promising Sellers intend to transfer the Shares and Bethia intends to acquire the Shares. 

THEREFORE, the Promising Sellers and Bethia (hereinafter collectively called the “Parties”) agree to the following:

 ARTICLE ONE 
 PROMISED PURCHASE AND SALE 
 1.1 Subject to the terms and conditions
of this Promise, Lan Cargo promises to sell, assign and transfer full ownership to Bethia of 8,837,860 Blue Express Intl. Shares, representing approximately 99.9911% of the capital, and 1 Blue Express Share, representing 1% of the capital, free of
any lien, restriction, limitation, debt, claim or third-party right. Bethia promises to buy, acquire and accept such Shares from Lan Cargo. Subject to the terms and conditions of this Promise, Inverlan promises to sell, assign and transfer full
ownership to Bethia of 785 Blue Express Intl. Shares, representing approximately 0.0089% of the capital, free of any lien, restriction, limitation, debt, claim or third-party right. Bethia promises to buy, acquire and accept such Shares from
Inverlan. So, the Promising Sellers will sell and transfer 100% of the share capital in Blue Express Intl. and Blue Express to Bethia provided the conditions set down in this Promise are fulfilled. The promised purchase agreement will be signed in
terms substantially similar to the content of Schedule 1.1 (hereinafter also the “Purchase”). The Parties stipulate that Bethia may execute the promised Purchase pro se or through one or more companies belonging to its same business group
(as this term is defined in Article 100 of Securities Market Law 18,045). All obligations under the Promise, in particular, but not limited to, the obligation to execute the Purchase and the Promising Buyer’s Representations and Warranties, as
this term is defined below, shall apply to such companies in the business group that ultimately execute the Purchase. 
 1.2
The Purchase price for all of the Shares shall be, subject to the following adjustments, the amount equal in Chilean pesos to the total resulting from the following equation (the “Price”): 

 

	 	(a)	US$54,000,000 (fifty-four million dollars of the United States of America, hereinafter also “Dollars”), less 

 

	 	(b)	12,000 Unidades de Fomento, less 

  

	 	(c)	The price assigned to the trademarks and other assets identified in Schedule 4.3(f), which will be sold separately as indicated in Section 4.3(f) of the Promise.
The Purchase Agreement will indicate the amount within the price corresponding to the Blue Express Intl. Shares and the Blue Express Share. The observed dollar exchange rate for the business day immediately prior to payment shall be used to
calculate payment of the price. The rate for the Unidad de Fomento will be the rate on the day of the Purchase, for purposes of calculating the payment of the Price. 

 EXECUTION VERSION 
  

1.3 The Price will be subject to an adjustment withholding (hereinafter also the “Withholdings”) of the sums estimated to
represent the deeds or circumstances having an adverse effect on (i) the December 2010 closing balance sheet of Blue Express Intl. and/or Blue Express (hereinafter collectively the “Blue Express Group”) contained in Schedule 1.3;
(ii) the EBITDA of the Blue Express Group, amounting on this date to CH$3,739,597,000; or (iii) the equity of the Blue Express Group, amounting on this date to approximately US$7,400,000 Dollars, for the portion that, when combined,
exceeds US$1,000,000 (one million Dollars) that: 
  

	 	(a)	are found during the Due Diligence (as this term is defined below); 

  

	 	(b)	are not identified in (b.i) the representations and warranties of the promising sellers contained in Schedule 2.1 or (b.ii) the closing management report on Blue
Express Intl. and Blue Express through December 2010, contained in Schedule 1.3 (b.ii); and 

  

	 	(c)	are proven by Bethia to the Promising Sellers by the signed opinion of accounting or tax advisors, which the Promising Sellers have the right to review and, if
relevant, contest for good reason in the period of three bank business days after delivery to the Promising Sellers. Should the discrepancy between Bethia and the Promising Sellers continue, it will be resolved by Ernst & Young or,
alternatively, by Deloitte, in no more than five bank business days, to which the parties hereby agree. All costs arising from the solution of the discrepancies indicated above by Ernst &Young or Deloitte, as the case may be, shall be paid in
equal proportions by the Parties. 

 Save as stipulated in Sections 1.3 and 5.2(c), the Price will not be subject
to other deductions or withholdings for taxes, expenses or otherwise, provided, however, that the Promising Sellers shall make payment of any tax, charge or assessment for which they are liable that is imposed on the transfer and/or capital gain
resulting from the Purchase or that is otherwise determined on the basis of taxable income in their respective jurisdiction. 

1.4 As of signature of this Promise through March 11, 2011, Bethia will be empowered to conduct, at its cost, a broad
operating, financial, commercial, regulatory, accounting, tax, labor and legal audit (hereinafter also the “Due Diligence”) of the Blue Express Group through its executives and outside advisors. All information provided to conduct the due
diligence will be subject to the non-disclosure obligation set out in the non-disclosure agreement signed on January 18, 2011, which the Parties declare to know and accept. The Promising Sellers undertake to facilitate all information included
on the list provided in Schedule 1.4 (hereinafter also the “Due Diligence List”). The Promising Sellers shall also facilitate, on a timely basis, further information that Bethia reasonably requires solely to complement the audit that it
will make using the information furnished according to the Due Diligence List, provided it remains within the scope of the items requested in the Due Diligence List and the information deals with to the Blue Express Group. 

 EXECUTION VERSION 
  

1.5 Bethia shall, in the period of three bank business days following completion of the Due Diligence, give written notice to the
Promising Sellers of the eventual Withholdings that must be made on the Price as a result of the Due Diligence, the reason and support for them, which will be treated pursuant to Section 5.2(c). If Bethia does not give notice of such
Withholdings in that period, payment of the Price will not be subject to Withholdings. 
 ARTICLE TWO 

REPRESENTATIONS AND WARRANTIES 
 2.1 The Promising Sellers represent and warrant to Bethia, which has been determining to Bethia signing this Promise, that each and every one of the assertions contained in Schedule 2.1 are on this
date true and correct (hereinafter also the “Promising Sellers’ Representations and Warranties”). 

2.2 As stated in the Purchase: 
  

	 	(a)	All of the Promising Sellers’ Representations and Warranties shall be repeated on the date of the Purchase and shall remain in effect for 6 months following that
date, except for the Promising Sellers’ Representations and Warranties contained in Section 12 of Schedule 2.1 (“Tax Affairs”), which shall remain in force for 12 months following the date of the Purchase.

  

	 	(b)	The Promising Sellers shall indemnify and hold Bethia, Blue Express Intl. and Blue Express harmless (hereinafter also the “Indemnitees”) for, and it
shall pay the Indemnitees any sum derived from, any loss, liability, claim, injury, expense (including reasonable attorneys’ fees) or decrease in value, whether or not a third-party claim is involved (hereinafter also the
“Damages”) that arise from or in relation to: 

 (i) A material mendacity or
inaccuracy of any of the Promising Sellers’ Representations and Warranties; or 
 (ii) Any material default
by the Promising Sellers on any agreement or obligation under the Purchase; and 
  

	 	(c)	The Promising Sellers shall not be liable in relation to the matters described in paragraph (i) of Section 2.2(b) (for indemnification or otherwise) for any
sum exceeding the Price. 

 2.3 Bethia represents and warrants to the Promising Sellers, which has been
determining to the Promising Sellers signing this Promise, that each and every one of the assertions contained in Schedule 2.3 are on this date true and correct (hereinafter also the “Bethia’s Representations and Warranties”).

 EXECUTION VERSION 
  

2.4 As stated in the Purchase: 
  

	 	(a)	All Bethia’s Representations and Warranties shall be repeated on the date of this Purchase and through 6 months following that date. 

 

	 	(b)	Bethia shall indemnify and hold the Promising Sellers harmless from, and shall pay it, Damages that arise from or in relation to: 

 

	 	(i)	A material mendacity or inaccuracy of any of Bethia’s Representations and Warranties; or 

 

	 	(ii)	Any material default by Bethia on any agreement or obligation under the Purchase; and 

 

	 	(c)	Bethia shall not be liable in relation to the matters described in paragraph (i) of Section 2.4(b) (for indemnification or otherwise) for any sum
exceeding the Price. 

 ARTICLE THREE 

MANAGEMENT 

3.1 As of this date through the Closing or Termination (as each of these terms is defined below), the Promising Sellers assume the
following obligations (from which they may be released only under written consent of Bethia, which may not be unreasonably denied): 
 (a) No entity in the Blue Express Group may perform any transaction outside of the ordinary course of its business, understood to be, among other matters, (i) the distribution of dividends,
(ii) the assumption of any debt other than supplier accounts payable, (iii) an amendment and/or early termination of material contracts and/or contracts strategic to the company’s operations; or changes in the actual staff of senior
executives of the company, except because of resignation or justified severance according to the rules in the Labor Code; 
 (b) Furthermore, without affecting the ampleness of the restriction indicated in letter (a) above: 
 (i) no entity in the Blue Express Group will agree to the payment of compensation to the Board and/or an amendment to its by-laws, either at a Shareholders Meeting or at a Board Meeting; 

(ii) no entity in the Blue Express Group will transfer or encumber any real or personal asset for a commercial or market
value greater than or equal to US$100,000 or that is relevant or material to the operational or commercial processes of the Blue Express Group (including the Blue Express trademark, if it is in the equity of the Blue Express Group) or promise the
transfer thereof or perform any act or contract that may be considered the commencement of such a transfer or process; and 

 EXECUTION VERSION 
  

(iii) no entity in the Blue Express Group will enter into or amend, either individually or collectively, contracts or
agreements that modify or alter (A) wages and salaries, (B) working conditions, (C) benefits, allowances and payments in general, and (D) the working hours and work week of executives and employees of the Blue Express Group in
general, whether internal or outsourced; 
 (c) No entity in the Blue Express Group may make or promise to make
investments for an aggregate above US$200,000; and 
 (d) Each entity in the Blue Express Group will comply with
all permits, authorizations, contracts, agreements and commitments that are in effect. 
 ARTICLE FOUR 

TERMS; CONDITIONS PRECEDENT 
 4.1 The purchase will be executed 15 business days after expiration of the period indicated in Section 1.5 (hereinafter also the “Closing Date”) or on such other date as agreed by the
Parties in writing, provided that the Parties will make their best efforts for that period not to go beyond April 15, 2011. To the extent necessary by law, the Parties declare that this period is not extinctive and that any of the Parties may
demand specific performance of this Promise, without prejudice to any other right granted thereto by the law or this Promise. 

4.2 The obligation of the Promising Sellers to execute the Purchase is subject to fulfillment of the following conditions precedent
concurrently by the Closing Date: 
  

	 	(a)	The Withholdings resulting from the due diligence that Bethia must make according to Section 1.5 are less than or equal to US$1,000,000 (one million Dollars);

  

	 	(b)	Bethia’s Representations and Warranties will be entirely true and accurate; 

 

	 	(c)	Bethia will be in full compliance with its obligations under this Promise; 

 

	 	(d)	The execution of the Purchase will have been approved by the Board of Directors of Lan Cargo and Inverlan in the terms indicated in Article 149 of the Companies Law
18,046; and 

 EXECUTION VERSION 
  

 

	 	(e)	There will be stipulations in the Purchase or in a Schedule thereto that Blue Express S.A. promises to pay Lan Airlines S.A. the debt of US$4,519,000 appearing in the
balance sheet contained in Schedule 1.3 in no more than 90 days after the date of execution of the Purchase. Documenting that obligation may not mean for Blue Express S.A. any tax burden for such debt under the Stamp Tax Law; and

  

	 	(f)	Bethia causes, through itself or through Blue Express S.A. or a third party, payment to Inmobiliaria Aeronáutica S.A. of 12,000 Unidades de Fomento, taken at the
rate on the day of the Purchase, for the advance payment of rent under the lease identified in Section 1 of Schedule 2.1.18. Said payment will be made at the time that the representatives of Inmobiliaria Aeronáutica S.A. and Blue Express
S.A. sign the amendment of the respective lease on the date of the Purchase, in the form included in Schedule 4.1(f). 

 These conditions precedent are established to the exclusive benefit of the Promising Sellers and may be waived at their discretion in the period indicated in Section 4.1 

4.3 Bethia’s obligation to execute the Purchase is subject to fulfillment of the following conditions precedent concurrently by the
Closing Date: 
 (a) The Promising Sellers’ Representations and Warranties must be entirely true and
accurate; 
 (b) The Promising Sellers are in full compliance with their obligations under this Promise;

 (c) (i) no petition or declaration has been made for the bankruptcy of any entity in the Blue Express Group
nor has any business reorganization process begun; 
 (d) All permits, notifications and authorizations
requirable according to governing law for Bethia to acquire the Shares and exercise effective control over Blue Express Intl. and Blue Express have been granted and are in effect (the cost will be assumed by Bethia); and 

(e) Inmobiliaria Aeronáutica S.A. and LAN Airlines S.A. agree that the contracts identified in Sections 1 and 2
(this latter only in relation to information technology services) in Schedule 2.1.18 remain in effect for a period of at least 2 years, in the case of the contract in Section 1, and 12 months, in the case of the contract in Section 2, and
under the other conditions established in the forms that are provided in Schedules 4.2(f) and 4.2 (e) of the Promise; and 
 (f) The Promising Sellers cause the transfer, on or before the Purchase, of the Blue Express trademark and the assets identified in Schedule 4.3(f) to Blue Express Intl., Blue Express, Bethia or the
companies in the Bethia business group indicated in Section 1.1. The Purchase Price must be adjusted downwards by the equivalent to the price at which that trademark and assets identified in Schedule 4.3 (f) are transferred, pursuant to
Section 1.2(c) of the Promise. 

 EXECUTION VERSION 
  

These conditions precedent are established to the exclusive benefit of Bethia and may be waived at its discretion in the period indicated
in Section 4.1. 
 4.4 Notwithstanding the provisions in Section 4.2(a), the Parties agree that if the Withholdings
resulting from the Due Diligence that Bethia has had to make according to Section 1.5 exceed, as a whole, US$1,000,000 (one million Dollars), Bethia may, by written notice to the Promising Sellers delivered in the period indicated in
Section 4.1, limit the Withholdings to US$1,000,000 (one million Dollars) and, in this case, the Promising Sellers shall consider the condition established in Section 4.2 to have been fulfilled. 

4.5 If any of the conditions precedent in favor of one Party has not been fulfilled by the Closing Date and such condition has not been
waived by the Party in whose benefit it was established, said Party will be released from the obligation to execute the Purchase (hereinafter also the “Termination”). 

4.6 Notwithstanding the stipulations in Section 4.2, the Parties represent that the Promise will not take effect in regard to the
Promising Sellers until the Boards of Directors of LAN Cargo and Inverlan (i) grant the authorization indicated in Section 4.2(d) and (ii) grant or ratify the powers of attorney to execute the Promise and the Purchase, all before
January 31, 2011. 
 ARTICLE FIVE 
 CLOSING 
 5.1 The transaction closing (hereinafter also
the “Closing”) will be held in the offices of LAN Airlines S.A. located at Avenida President Riesco 5711,
19th floor, Las Condes, Santiago, Chile, or in such other
location that is agreed upon by the parties. 
 5.2 The following actions shall be taken and deliveries made at the Closing:

 (a) The Promising Sellers and Bethia will sign the Purchase; 

(b) The Promising Sellers will deliver the certificates of Shares to Bethia; 

(c) Once the Withholdings have been deducted, which, if applicable, will constitute a downward price adjustment (which
will occur simultaneously on the Closing Date), Bethia will pay each Seller on the same date the portion of the price of the Shares corresponding thereto. Payment will be made by bank check or by bank transfer to the account indicated by each
Seller. 
 (d) The Promising Sellers will deliver the minutes books of Board and Shareholders Meetings (and
committee meetings, if any) for Blue Express Intl. and Blue Express to Bethia, together with the respective share registries and also certify the transfer of the Shares to the transferee; 

 EXECUTION VERSION 
  

(e) The board of directors of Blue Express Intl. and Blue Express will be replaced by individuals appointed by Bethia. All
present directors must resign or the corresponding shareholders meetings must be convened at least the minimum time in advance required by law and the respective resolution must be adopted to remove all directors and appoint entirely new board
members as previously informed by Bethia; and 
 (f) The other acts and contracts that are necessary to comply in
full with the terms and conditions of this Promise shall be executed, including revocation of the powers of attorney indicated by Bethia, effective immediately upon the Closing. 

ARTICLE SIX 

JOINT AND SEVERAL LIABILITY; PROHIBITION 
 6.1 The Promising Sellers assume the obligations contracted by each under this Promise as their own, jointly and severally, pro se, together with such other obligations that must be fulfilled by any of
the entities in the Blue Express Group under this Promise. The foregoing also encompasses the obligations that they will contract under the Purchase, including, but not limited to, the obligation to an indemnity for a material mendacity or
inaccuracy of the Representations and Warranties. 
 6.2 The Promising Sellers promise to Bethia that they will not encumber,
transfer or perform any act or contract with the Shares until the Closing or Termination has taken place (hereinafter the “No-Change Period”). Furthermore, the Promising Sellers promise pro se and on behalf of their shareholders,
executives, directors, employees, subsidiaries, attorneys, advisors, accountants and agents (hereinafter also the “Representatives”) not to take actions during the No-Change Period intended to generate any expression of interest, request,
proposal or offer from any person or entity (save Bethia) in relation to: 
 (i) The sale, licensing, transfer or
acquisition of all or a material part of the business or assets of the Blue Express Group or any subsidiary or company resulting from the division of the Blue Express Group; 

(ii) The issuance, delivery, transfer or acquisition of (A) shares or securities representing equity of the Blue
Express Group; or (B) any security, instrument or obligation that might be converted into or exchanged for shares or securities representing equity in the Blue Express Group; or 

 EXECUTION VERSION 
  

(iii) Any merger, consolidation, business agreement, exchange of shares, reorganization or similar transaction involving
the Blue Express Group (any of the actions described in numerals (i), (ii) and (iii) hereinafter also a “Forbidden Action”). 
 ARTICLE SEVEN 
 DEFAULT CLAUSE 

7.1 A default by the Promising Sellers on the obligation to execute the Purchase shall entitle Bethia to collect a fine or penalty of
US$3,000,000 (three million Dollars) by way of liquidated damages. 
 7.2 A default by Bethia on the obligation to execute the
Purchase shall entitle the Promising Sellers to collect a fine or penalty of US$6,000,000 (six million Dollars) by way of liquidated damages. 
 ARTICLE EIGHT 
 GOVERNING LAW; JURISDICTION 

8.1 This Promise is governed by the law of the Republic of Chile. 

8.2 All disagreements arising from, or that bear a relationship to, this Promise shall be resolved by the Ordinary Courts of
Justice sitting in the city of Santiago, Chile. 
 ARTICLE NINE 

GENERAL PROVISIONS 
 9.1 Each of the Schedules forms a part of this Promise for all pertinent purposes. The Schedules are as follows: 
  

			
	 Section
	  	 Heading

	 Schedule 1.1
	  	Purchase
	 Schedule 1.3
	  	Balance Sheet
	 Schedule 1.3(b.ii)
	  	Management Report
	 Schedule 2.1
	  	Promising Sellers’ Representations and Warranties
	 Schedule 1.4
	  	Due Diligence List
	 Schedule 2.1.18
	  	Certain leases and services agreements
	 Schedule 2.3
	  	Bethia’s Representations and Warranties
	 Schedule 4.2(f)
	  	Form of amendment to lease
	 Schedule 4.3(e)
	  	Form of amendment to services agreement
	 Schedule 4.3(f)
	  	Trademarks and certain assets

 EXECUTION VERSION 
  

9.2 Save specific provision otherwise in this Promise, no change, amendment, alteration, supplement or termination of this Promise
or of any of the parts thereof shall be valid unless set down in writing and signed by all the Parties. 
 9.3 Any and
all of the notices, notifications or other correspondence or deliveries that must or may be made according to the provisions of this Promise shall be deemed made, for all pertinent purposes, upon forwarding by certified mail, postage prepaid and
return receipt requested, or delivered by messenger or sent by fax or e-mail in the following manner: 
 If to the Promising
Sellers, at: 
 to the attention of:     Alejandro de la Fuente 

 

			
	   Address:
	    	Avda. Presidente Riesco 5711, 20th floor, Las Condes, Santiago
	   Fax:
	    	56-2-5658764
	   e-mail:
	    	alejandro.delafuente@lan.com

 If to Bethia, at: 
 to the attention of:     Jaime Cuevas Rodríguez 

			
	   Address:
	    	Avda. Kennedy 5454, Suite 902, Vitacura, Santiago
	   Fax:
	    	56 -43- 401071
	   e-mail:
	    	jcuevas@bethia.cl

 or to such other address specified by any of the Parties by notice to the other according to this paragraph. The notices,
notifications and correspondence shall be deemed delivered to any of the Parties on the same date when delivered by messenger, if delivered in that way; on the date five days after forwarding by post, in the case of certified mail; or the business
day next succeeding the date when transmitted by fax, if sent in that manner. Notices sent by e-mail shall always be followed by forwarding by messenger, certified mail or fax so that they are deemed validly received, unless the sender receives a
read receipt from the recipient. 
 9.4 No waiver of the provisions in this Promise shall be valid unless it is made in
writing and signed by the Party making the waiver. No waiver shall be deemed to be a continuing waiver over time or a waiver of a subsequent default or breach, whether or not similar in nature, unless so specifically stipulated in writing.

 9.5 If any section of this Promise or its enforcement against any person or any circumstance were declared void or
illegal for any reason, all other sections of this Promise that might take effect without such void or illegal section and the enforcement of those same sections against persons or circumstances other than those regarding which they were deemed void
or illegal shall continue in full force, always provided that the invalidity of any one of the sections of this Promise regarding any person or circumstance does not materially affect or change the meaning of this Promise. To the extent legally
possible, the section declared void or illegal or unenforceable against any person or circumstance shall be interpreted, in each case, to be able to produce legal effect. 

 EXECUTION VERSION 
  

9.6 The provisions in this Promise will be binding upon and shall inure to the benefit of the Parties and their respective
successors and assigns; provided that no Party may assign, delegate or otherwise transfer any of its rights or obligations under this Promise without the consent of the other Party, provided, moreover, that Bethia may fulfill the obligations assumed
under this Promise either directly or through one or more subsidiaries and/or third parties that will allow it to comply at all times with governing laws, which must be previously disclosed in writing to the Promising Sellers. 

9.7 The titles and headings contained in this Promise have been placed for reasons of convenience and reference only and do not in
any way modify or interpret the intention of the Parties or affect the content of the stipulations in this Promise. 
 9.8
The bearer of an original copy of this Promise is authorized to request the corresponding registrations in the shareholders registry of each of the entities in the Blue Express Group. 

9.9 The expenses incurred by each Party in negotiating and executing this Promise, including the fees of legal, accounting and
financial advisors, shall be paid by the Party incurring them. 
 9.10 Each Party declares that it has the authority and
legal, corporate and other authorizations needed to execute, deliver and perform this Promise. 
 9.11 Save provision
otherwise in this Promise, all periods established herein are in consecutive (calendar) days. 
  

 
 for LAN Cargo
S.A. 
  
  

for Inversiones LAN S.A. 
  

 
 For Bethia
S.A.Assignment of Social Rights, dated as of April 6, 2011

 Exhibit 4.18 
 PATRICIO RABY BENAVENTE 

          NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE 30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 

    EMAIL: notariaraby@notariaraby.cl 
 JOURNAL NO. 
 ASSIGNMENT OF INTERESTS 

AND 

MODIFICATION OF 
 “BLUE EXPRESS INTL. SERVICIOS DE TRANSPORTE 

LIMITADA” 

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&
 

&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&&
 
 In Santiago, Chile, on April 6, 2011, before me, PATRICIO RABY BENAVENTE, Attorney, Regular Notary Public of the Fifth
Notarial Office of Santiago, domiciled at Gertrudis Echenique 30, Suite 44, Las Condes, THERE APPEARED: /One/ Mr. ALEJANDRO DE LA FUENTE GOIC, Chilean, married, engineer, national identity card number 6.947.715-1, on behalf
of, as shall be evidenced, LAN CARGO S.A., a closed corporation incorporated and existing in accordance with the laws of the Republic of Chile, taxpayer identification number 93.380.000-4, a cargo airline, both domiciled at Presidente Riesco
5711, 20th floor, borough of Las Condes, Santiago, hereinafter indistinctively called “Lan Cargo”; /Two/ Mr. ALEJANDRO DE LA FUENTE GOIC, identified above, on behalf of, as shall be evidenced, INVERSIONES LAN
S.A., a closed corporation incorporated and existing in accordance with the laws of the Republic of Chile, taxpayer identification number 96.575.810-0, an investment company, both domiciled at Presidente Riesco 5711, 20th floor, borough of an
investment company, both domiciled at Presidente Riesco 5711, 20th floor, borough of 

  
 1 

 
Las Condes, Santiago, hereinafter indistinctively called “Inversiones Lan,” and together with Lan Cargo, the “Assignors”; /Three/ Mr. CARLOS
ALBERTO HELLER SOLARI, Chilean, married, entrepreneur, national identity card number 8.717.000-4, on behalf of, as shall be evidenced, SERVICIOS DE TRANSPORTES LIMITADA, a limited liability company incorporated and existing in accordance
with the laws of the Republic of Chile, taxpayer identification number 76.139.888-1, a transportation company, both domiciled at Avenida Isidora Goyenechea 2800, 50th floor, Las Condes, Santiago; and /Four/ Mr. CARLOS ALBERTO HELLER
SOLARI, identified above, on behalf of, as shall be evidenced, INVERSIONES BETMIN SpA, a joint stock company incorporated and existing in accordance with the laws of the Republic of Chile, taxpayer identification number 76.132.459-1, an
investment company, both domiciled at Avenida Isidora Goyenechea 2800, 50th floor, Las Condes, Santiago, hereinafter together with Servicios de Transportes Limitada, the “Assignees,” and the Assignees and Assignors are collectively called the
“Parties.” All parties are of age, have evidenced their identities by the aforesaid identity cards and state that under due authority, they hereby enter into the following agreement (hereinafter also the “Assignment”).
FIRST: RECITALS. BLUE EXPRESS INTL. SERVICIOS DE TRANSPORTE LIMITADA. 1.1 

  
 2 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  

Incorporation and Modifications. /a/ Incorporation. Blue Express Intl. Servicios de Transporte Limitada, hereinafter indistinctively called the
“Company,” was incorporated as a closed corporation under the corporate name of “Lan Courier S.A.” by public deed dated April 12, 1996, executed in the Santiago Notarial Office of Mr. Gonzalo de la Cuadra Fabres.
An abstract of this public deed was registered on page 11305, number 9179, of the 1996 Commercial Registry of the Santiago Real Estate Registrar and was published in the Official Gazette on May 6th of the same year. /b/ Modifications. Prior to its
transformation into a limited liability company discussed in Section 1.2 below, the bylaws of the company underwent the following amendments: /i/ The capital of the Company was increased by public deed dated January 25, 2000,
executed in the Santiago Notarial Office of Mr. Eduardo Pinto Peralta, to the amount of 2,511,323,865 pesos, divided into 8,838,645 common registered shares in one single series with no par value. An abstract of that public deed was registered
on page 7,415, number 3,440, of the 2000 Commercial Registry of the Santiago Regal Estate Registrar and was published in the Official Gazette on February 21st of the same year. /ii/ The business of the Company was modified by public deed dated May 15, 2000,
executed in the Santiago Notarial Office of Mr. Eduardo Pinto Peralta. An abstract 

  
 3 

 
of that public deed was registered on page 11,861, number 9,561, of the 2000 Commercial Registry of the Santiago Real Estate Registrar and was published in the Official Gazette on
May 23rd of the same year. /iii/ The business
of the Company was modified by public deed dated August 17, 2000, executed in the Santiago Notarial Office of Mr. Eduardo Pinto Peralta. An abstract of that public deed was registered on page 22,281, number 17,763, of the 2000 Commercial
Registry of the Santiago Real Estate Registrar and was published in the Official Gazette on August 30th of the same year. /iv/ The corporate name of the Company was changed from “Lan Courier S.A.” to “Blue Express Intl. S.A.” by public deed dated May 23, 2008,
executed in the Santiago Notarial Office of Mr. Patricio Zaldívar Mackenna. An abstract of that public deed was registered on page 24,120, number 16,506, of the 2008 Commercial Registry of the Santiago Real Estate Registrar and was
published in the Official Gazette on June 10th of the same year. /v/ The resolution on the change in the company’s name, adopted at the Special Shareholders Meeting held May 7, 2008, the minutes of which were executed to public
deed on May 23, 2008 in the Santiago Notarial Office of Mr. Patricio Zaldívar Mackenna, was voided and the corporate name of the company was changed from “Lan Courier S.A.” to “Blue Express Intl.
S.A.” by a public deed 

  
 4 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  

dated July 8, 2008, executed in the Santiago Notarial Office of Mr. Patricio Zaldivar Mackenna. An abstract of that public deed was registered on page 35,323, number 24,264, of the 2008
Commercial Registry of the Santiago Real Estate Registrar and was published in the Official Gazette on August 9, 2008. 1.2. Transformation. The Company was transformed from a stock corporation into a commercial limited
liability company by public deed dated March 3, 2011, executed in the Santiago Notarial Office of Mr. Eduardo Avello Concha. The corporate name was changed to “Blue Express Intl. Servicios de Transporte Limitada” and its
actual bylaws were approved. An abstract of that public deed was registered on page 12,837, number 9,668, of the 2011 Commercial Registry of the Santiago Real Estate Registrar and was published in the Official Gazette on March 10th of the same year. 1.3. Partners. As set out in
the bylaws of “Blue Express Intl. Servicios de Transporte Limitada” to which Section 1.2 above refers, the sole partners in the company are currently those indicated below, each holding the interests indicated: /a/ Lan Cargo,
owning 99.9911% of the capital; and /b/ Inversiones Lan, owning 0.0089% of the capital. SECOND: ASSIGNMENTS. 2.1. Lan Cargo. /a/ LAN CARGO S.A., duly represented and under the consent of INVERSIONES
LAN S.A., hereby sells, assigns and transfers all of the interests 

  
 5 

 
it owns in Blue Express Intl. Servicios de Transporte Limitada to Servicios de Transportes Limitada, for whom the representative thereof indicated in the preamble purchases, accepts and
acquires such interests. /b/ The price of the assignment made by Lan Cargo to Servicios de Transportes Limitada herein is the sum of 22,454,140,584 pesos, the legal tender of Chile (such currency hereinafter called “Pesos”),
which Servicios de Transportes Limitada pays to Lan Cargo in this act, at once and in cash. Lan Cargo, through its representatives appearing herein, declares receipt thereof to its full and total satisfaction and it grants a release in regard
thereto. /c/ Furthermore, Lan Cargo and Servicios de Transportes Limitada waive the resolutory actions that may arise from this agreement. 2.2. Inversiones Lan. /a/ INVERSIONES LAN S.A., duly represented and under the
consent of LAN CARGO S.A., hereby sells, assigns and transfers all of the interests that it owns in Blue Express Intl. Servicios de Transporte Limitada to Inversiones Betmin SpA, on behalf of whom the representative indicated in the preamble
purchases, accepts and acquires such interests; /b/ The price of the assignment made by Inversiones Lan to Inversiones Betmin SpA is the sum of 1,994,431 pesos, which Inversiones Betmin SpA pays to Inversiones Lan at once and in cash in this
act. Invesiones Lan declares, through 

  
 6 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
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30 OF. 44, LAS CONDES 
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     EMAIL: notariaraby@notariaraby.cl 
  
 
its appearing representative, receipt thereof to its full and total satisfaction and it grants a release in regard thereto. /c/ Furthermore, Inversiones Lan and Inversiones Betmin SpA
waive the resolutory actions that may arise from this agreement. 2.3 Transfer of Title. Scope. /a/ The transfer of title to the interests that are the subject of the assignments stipulated in Sections 2.1 and 2.2 above takes place in
this act because each Assignee has the power and intent to transfer such interests and each Transferee has the capacity and intent to acquire them. /b/ The assignments of interests stipulated in Sections 2.1 and 2.2 above encompass not only
the rights or shares of the Assignors in the capital, but also the proportions of rights corresponding thereto in the company’s assets, including reserves, revaluation funds and undistributed profits. THIRD:
REPRESENTATIONS. 3.1. The Assignors, duly represented, expressly represent that the interests in this assignment are assigned and transferred free of price balances, resolutory actions, pledges, liens, attachments, litigation or
prohibitions, and the Assignors are liable for the clearing of title pursuant to law. The Assignors further represent and warrant that there are no balances owed by or to the partners in their personal accounts on this date. 3.2. The
Parties represent that this Assignment is made in compliance with the purchase promise dated 

  
 7 

 
January 24, 2011, signed by LAN Cargo and Inverlan, as promising sellers, and Bethia S.A., as promising buyer, amended on even date herewith (hereinafter also the
“Promise”). FOURTH: REPRESENTATIONS AND WARRANTIES. 4.1. The Assignors represent and warrant to the Assignees, such representations and warranties being determining to the Assignees executing this
assignment, that each and every one of the assertions contained in Schedule 2.1 of the Promise are, on this date, true and correct (hereinafter also the “Promising Sellers’ Representations and Warranties”). Such schedule is filed
together this deed upon signature by the parties. 4.2. All of the Promising Sellers’ Representations and Warranties shall remain in effect through six months from the date of this Assignment, except for the Promising Sellers’
Representations and Warranties contained in Section 12 of Schedule 2.1 of the Promise (“Tax Affairs”), which shall remain in effect through 12 months following the date of this Assignment. 4.3. The Assignees represent and
warrant to the Assignors, such representations and warranties being determining to the Assignors executing this Assignment, that each and every one of the assertions contained in Schedule 2.3 of the Promise are true and correct on this date
(hereinafter also the “Promising Buyers’ Representations and Warranties”). Said Schedule 

  
 8 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
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30 OF. 44, LAS CONDES 
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     EMAIL: notariaraby@notariaraby.cl 
  
 
is filed together with this deed upon signature by the parties. All the Promising Buyers’ representations and warranties shall remain in effect through six months following the date of this
Assignment. FIFTH: WITHDRAWAL AND INCORPORATION OF PARTNERS. 5.1. Withdrawal. LAN CARGO S.A. and INVERSIONES LAN S.A. withdraw from the Company because of the assignment of interests set out in the third
clause above. They declare that the Company owes nothing to them for any reason or concept and, accordingly, they grant the Company the most ample and complete release without any reserve of any type or nature. 5.2. Incorporation.
The partners in the Company, the Transferees, Servicios de Transportes Limitada and Inversiones Betmin SpA, become the only partners in the Company because of the assignments of interests set out in the third clause above. SIXTH:
AMENDMENT OF BYLAWS. SURVIVAL. 6.1. Amendment of Bylaws. Because of the assignments of interests stipulated in the Third Clause above, Servicios de Transportes Limitada and Inversiones Betmin SpA, as the sole current
partners in “Blue Express Intl. Servicios de Transporte Limitada,” hereby agree to make the following amendments to the Company’s bylaws: /a/ Capital. Article Six on capital in the Bylaws is replaced in its entirety by
the following: “Article Sixth: The capital of the Company is the sum of 3,291,842,000 pesos, which is fully 

  
 9 

 
paid and contributed in the following way, as stated in the public deed of transformation of the Company specified above: /a/ Servicios de Transportes Limitada, the sum of 3,291,549,000
pesos; and /b/ Inversiones Betmin SpA, the sum of 293,000 pesos.” /b/ Management and Use of the Corporate Name. Article Eight on administration and use of the corporate name in the Bylaws is substituted in its
entirety by the following: “Article Eighth: The Company shall be represented and managed and its corporate name shall be used by Servicios de Transportes Limitada, who shall do so through one or more agents appointed by public
deed, which shall be noted at the margin of the registration of the abstract of the deed containing the Company’s bylaws. It is stipulated that the appointment shall be essentially revocable under the same formalities stipulated and shall not
form part of the Company’s bylaws. The managing partner, acting in the aforesaid manner, shall represent the Company judicially and extrajudicially in Chile and abroad in all affairs, businesses, transactions, proceedings, actions, lawsuits,
acts and contracts relating to the business purpose or that are necessary or conducive thereto, with the powers in Articles Seven and Eight of the Code of Civil Procedure. To such end, without the following list implying any limitation of authority,
the managing partner, 

  
 10 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
acting in the aforesaid manner, may: 1) Open and close bank current accounts for deposit, credit or savings in local or foreign currency; draw and overdraw on checking accounts and issue
orders for debits in current accounts by electronic, data processing and/or fax procedures; draw, deposit, endorse, collect, revalidate, cancel, give stop payment orders and have protested checks and other demand documents and proof of deposit,
whether time, on demand or to the bearer or to the order; withdraw checkbooks or continuous check forms and give notice of theft, robbery or misplacement; request, acknowledge and reject balances; open and close demand or time savings accounts and
make deposits and withdrawals or draw on the same. Make time deposits, invest in mutual funds or other financial instruments in financial or investment institutions, redeem all or part thereof and withdraw the checks or cashier’s checks issued
because of redemptions or deposits. Without signifying any limitation of the preceding powers, pay and draw checks in payment of suppliers, make transfers of funds between bank current accounts of the Company and electronically authorize payrolls.
2) Draw, accept, reaccept, subscribe, endorse in ownership, in guarantee or in collection commission, collect, have protested, discount, cancel bills of exchange, promissory notes and 

  
 11 

 
any type of negotiable instrument or commercial paper. 3) Contract any type of transaction, specially with banks and financial institutions, the Central Bank, Banco del Estado de Chile,
Production Development Corporation or other credit or financial institutions, whether national or foreign, in any way and in particular those indicated in Law 18,010, i.e. loans in the form of credit facilities, loans or mutuatus, loans with drafts
or advances against acceptance or against securities, discounting, credits or advances in current accounts and promissory notes. These credits may be granted or conceded with or without a guarantee, in local or foreign currency, and may or may not
be adjustable. Open simple and documentary credits in banks, for its own account or another’s, that are revocable and irrevocable, divisible and indivisible, confirmed or unconfirmed. Authorize debits in the current account, make any type of
bank, simple or current account deposit for bank guarantee bonds or for any other purpose. Do business amply on the capital and investment markets; acquire rights to mutual funds of any type. Contract, obtain and renew bank guarantee bonds and sign
promissory notes or other financial instruments for that purpose. 4) Collect and receive judicially and extrajudicially everything owed to the Company and issue receipts, releases and cancellations. 5) Deliver, receive and withdraw
goods and 

  
 12 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
documents in open or closed custody or collection. Rent safe-deposit boxes, open them and withdraw whatever is inside them and terminate the rental thereof. 6) Perform any type of foreign
trade transaction, exports and imports of any type of goods, open and amend import records or licenses and attachments thereto, with the authority to sign all necessary documents. Withdraw merchandise from customs houses. Represent the Company to
the Central Bank of Chile and national or foreign commercial banks in everything regarding foreign trade. 7) Sign, deliver, negotiate, withdraw and endorse bills of lading, waybills or consignment notes regarding ground, air or maritime
transportation. 8) Perform any type of foreign exchange transaction, with the authority in particular to buy and sell and generally convey foreign currency on a spot or forward basis coming from visible or invisible foreign trade, make
conversions and agree to arbitrage. 9) Buy, sell, exchange, contribute and generally convey any type of corporeal or incorporeal chattel, stipulating prices, conditions, periods and other clauses, stipulations and modalities, with or without
a repurchase agreement; and give chattel in payment of the Company’s obligations, with the authority to appraise them, value them, set the value thereof and transfer them. These actions may be intended to gain ownership and personal rights

  
 13 

 
regarding the same or a part or share therein. Enter into any type of preparatory agreement, including a purchase promise and transaction closing regarding any type of chattel. Acting in this
manner and in this matter, it may enter into, modify, void, annul, rescind, extend, terminate, dissolve, renew, and put an end to any type of contract or legal act. 10) Buy, sell, exchange, contribute and generally convey any type of
corporeal or incorporeal real estate, bearer securities and shares of stock, stipulating prices, conditions, periods and other clauses, stipulations and modalities, with or without a repurchase agreement. These acts may be intended to gain
ownership, usufruct, personal rights in regard thereto or regarding a part or share therein. Enter into any type of preparatory agreement, including a purchase promise and option and lease-purchase regarding all types of real estate, bearer
securities and shares of stock. 11) Give and receive any type of chattel or real estate in lease or sublease, with or without a purchase option, set rent, periods and whatever is deemed convenient, extend, terminate and renew them. Enter into
any type of service contract, in particular for distribution and/or logistics, set the price and all kinds of conditions and modalities, terminate, extend, rescind or revoke them. Participate in bidding of any type or nature, make bids and offer

  
 14 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
contractual conditions of all kinds relative to the service being tendered, all within the company’s business, and accept the awards of contracts in that bidding. 12) Deposit and
withdraw merchandise or goods in general warehouses and customs warehouses as well as in any other type of warehouse, leave merchandise on consignment, grant powers of attorney for that purpose, endorse deposit and pledge vouchers. 13) Give
and receive chattel or real estate in bailment, loans, deposit and antichresis, agree to interest, default clauses and fines, including lease-purchase agreements. 14) Contract and modify insurance protecting against any type of risk, collect,
endorse and cancel policies, claim losses, collect the pertinent indemnity and sign releases and receipts. 15) Perform any type of exchange and brokering transactions. 16) Enter into any type of joint venture or joint account
agreement. 17) Buy and sell bonds, shares of stock and bearer securities in general with or without a guarantee, with or without a resale or repurchase agreement; subscribe bonds and shares, accept bills of credit. 18) Enter into,
amend and terminate any type of employment and service contract, whether or not for professional services. Enter into and amend collective agreements. 19) Sign certificates of settlement and grant releases in labor matters. 20) Make
and agree to the extinguishment of any type of 

  
 15 

 
obligation by payment, novation, set-off or otherwise. Agree to a novation and assume the status of debtor. 21) Request and issue statements of account. 22) Agree to, accept and
stipulate estimations of damages, default clauses and fines. 23) Enter into any type of transportation contract, charter party, distribution and logistics contract, including warehousing and/or archiving of documents and goods in general,
either as ship operator, charterer or beneficiary. Contract third parties for transportation and/or distribution services. Enter into any type of service contract, in particular, without limitation, for distribution, logistics and warehousing,
storage and archiving of documents and goods in general. Authorize the departure of any type of vehicle in transit, including the respective equipment thereof, for reasons of international transportation, distribution and/or logistical services.
24) Form part of communities, stipulate indivision, appoint a trustee pro indiviso. 25) Represent the Company with the right to speak and vote in the companies of which it forms a part, including at shareholders meetings or
assemblies of open or closed stock corporations; join companies already incorporated, incorporate companies or corporations of any type, in the country and abroad, whether partnerships or capital-based corporations, whether or not part of the
capital 

  
 16 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
comes from abroad, cooperatives, trade associations or joint accounts, closed or open stock corporations, modify, dissolve, liquidate, divide, merge and transform them from one type to another,
stipulate contributions, forms of payment, conditions, periods and other clauses, stipulations and modalities, including representing the Company at shareholders meetings, partners meetings, board of directors meetings or meetings of any other organ
of administration, with the right to be a director therein, appoint and elect directors. They may also enter into shareholders agreements of any nature and in the manner they deem most convenient, buy shares and interests in companies to join the
same, set prices, forms of payment and make payment in whatever modality or condition they deem pertinent, issue cancellations and receipts, receive and accept cancellations and releases; waive legal and judicial actions. 26) Assign any type
of credit in any way, whether registered, to the order or to the bearer, and accept assignments, set prices, forms of payment, make payment and determine the other conditions that are deemed convenient. 27) Give and receive goods in mortgage,
postpone, release, cancel mortgages, including with a general guarantee clause. Give and receive chattel, bearer securities, rights, actions and other corporeal or incorporeal things 

  
 17 

 
in pledge, be it a civil or commercial pledge of any type or special pledges and cancel them. Mortgages and pledges may secure the company’s own obligations. 28) Make the Company a
surety and joint and several co-debtor, grant and accept simple and joint and several sureties, co-sign bills of exchange, promissory notes and any type of negotiable instrument, whether to secure the company’s own or others’ obligations.
29) Accept, postpone and cancel any type of guarantee. 30) Grant reductions in amount or extensions of time, appoint agents, representatives, commission agents, distributors and dealers. 31) Enter into brokerage or mediation,
distribution and commission contracts for purchase and sale. 32) Establish and accept usufructs, trusts, easements and annuities. Request and accept awards of any type of goods. 33) Pay in cash, by payment in kind, by consignment, by
subrogation, by the assignment of assets, everything owed by the principal and, in general, extinguish obligations, including any form of novation and agree to novation in which the status of debtor or creditor is assumed. 34) Assume
third-party debt. 35) Establish and agree to special domiciles. 36) Request commercial ownership of trademarks, industrial models, invention patents, renew them and lodge oppositions against third-party registrations. 37)
Transfer, acquire and enter into royalty or license agreements 

  
 18 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
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     EMAIL: notariaraby@notariaraby.cl 
  
 
regarding any type of intellectual properties or industrial procedures. 38) Request administrative concessions of any nature or purpose, whether inland or maritime, including establishing
water rights and/or the regularization of water rights, and act with ample attributions before the General Water Office, Ministry of Public Works, Irrigation Office, National Irrigation Commission, Hydraulic Office and any other service, entity or
institution relating to this matter. 39) Represent the Company before any type of natural or juristic person, whether public or private, including Ministries of the administration and governance of the State in general, Ministry of Education,
Ministry of Health, National Health Service, Regional and Provincial Health Offices, Community Health Services, the Institute of Public Health, Municipalities, Sanitary Services Commission, National Environmental Commission and Regional
Environmental Commission, Agriculture and Livestock Service, Institute of Agricultural and Animal Husbandry Development, General Water Office, Irrigation Offices and other services or authorities in this area, Canal Owner Associations or Irrigator
Communities, Social Security and Equalization Funds, Mutual Safety Associations, Training and Employment Service, Social Security Normalization Institute (INP), Internal Revenue Service, Customs Service, 

  
 19 

 
Customs Bureau, Chilean Detective Force, Chilean Police Force, the Armed Forces in general, Treasury General of the Republic and Regional and Provincial Treasury Offices, Pension Fund Managers
(AFP), Ministry of Labor and Social Security, Labor Bureau, Regional Labor Offices and their Provincial and Municipal Inspection Departments, Ministry of Public Works, Transportation and Telecommunications and the Divisions or Offices or Departments
thereof, the Roadworks Office, commercial banks, and, in particular, Banco del Estado de Chile and Production Development Corporation (CORFO) and the National Mining Company. 40) Send, receive, and withdraw any type of correspondence, whether
or not certified, money orders and packages. 41) Enter into any type of lump sum or construction administration construction contract and subcontract. 42) Present any type of bid and apply for registration in contractors registries and
sign the documents required for this purpose. 43) Make mining claims, request surveys, oppose claims or surveys, transfer rights to mining property, buy, sell and convey shares in mining companies, modify them, appoint managers of such
companies, enter into leases, exploitation and operating credit agreements regarding mines and minerals. 44) Represent the Company to the Office of the Public Prosecutor and Local, Provincial and Regional Prosecutor Offices and in all

  
 20 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
lawsuits and judicial acts, whether or not contentious, before any type of ordinary or special court, with the most ample powers, including the powers to discontinue actions filed, answer and
accept counterclaims, accept the delegation thereof, reply to interrogatories, waive remedies and legal terms, settle, submit to arbitration, grant arbitrators their powers of conciliators, approve compositions, receive, petition for declarations of
bankruptcy, attend creditors meetings with the right to speak and vote, join creditor groups and make agreements and arrangements of any type, grant reductions in amount and extensions of time, grant venue, appoint receivers, experts, depositaries,
appraisers, liquidators and other officers that are necessary, represent the Company in mediation and arbitration, claim impediments, request probate, sign inventories, cause divisory lawsuits, petition for, accept and consent to awards, appoint
dividers, agree to indivision, all with the most ample attributions, open and track administrative case files of any nature, be notified of the resolutions issued and appeal adverse resolutions to the corresponding person using all powers inherent
to the cases being heard, represent the Company in everything relating to tax matters before the Internal Revenue Service and Treasury Service, relating to requests, responses to summons, reconsiderations, 

  
 21 

 
appeals and pertinent presentations and, in general, execute and enter into all acts and contracts of any nature whatsoever, and in the exercise of this power of attorney, delegate all or part of
it, even authorizing the delegate to delegate in turn. The power to settle also includes an extrajudicial settlement and settlement agreements may be made and the content thereof determined. 45) Delegate part of its powers and grant special
powers of attorney to one or more persons, whether representatives and/or third parties, revoke powers and delegations and reassume; 46) They may stipulate in the contracts and legal acts that they enter into and execute on behalf of the
company any type of condition, period and modality, agree to or amend any type of covenant or stipulation, whether essential, natural or merely incidental, principal or accessory; receive or deliver, demand statements of account, enforce all rights
and actions that are available to the Company for such affairs, acts and contracts; and sign, subscribe, modify, rectify, clarify, complement and rescind contracts and legal acts, such as public or private deeds or documents in which they are set
out that they deem necessary. 6.2. Survival. The bylaws of the Company continue in full force except as amended by this public deed, in particular the stipulation relative to the fact that the liability of the partners is

  
 22 

 PATRICIO RABY BENAVENTE 
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30 OF. 44, LAS CONDES 
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     EMAIL: notariaraby@notariaraby.cl 
  
 
limited to the amount of their respective contributions. SEVENTH: APPOINTMENT AND REVOCATION OF AGENTS. 7.1. Appointment. Without forming part of the
bylaws of “Blue Express Intl. Servicios de Transporte Limitada,” in relation to the stipulations in Article 8 of the Bylaws, as managing partner of the Company, it hereby appoints Mr. Carlos Alberto Heller Solari,
Mr. Jaime Eduardo Cuevas Rodríguez, Mrs. Ana Soledad Bull Zúñiga, Mr. Alejandro Gutiérrez Chavez, Mr. Eduardo Ignacio Soler Delano, Mr. Alberto Morgan
Lavín and Mr. Rodrigo Hernán Veloso Castiglione as agents to manage the Company and use the corporate name thereof on its behalf who, acting in the manner indicated below, shall have the following powers that are
described in Article Eighth provided they place their signature before the corporate name: a) Carlos Alberto Heller Solari will have and individually exercise all the powers without limitation, in particular the powers in numbers 1 to 46,
both included; b) Any two of Jaime Eduardo Cuevas Rodríguez, Ana Soledad Bull Zúñiga, Alejandro Gutiérrez Chavez, Eduardo Ignacio Soler Delano, Alberto Morgan Lavín and Rodrigo
Hernán Veloso Castiglione, acting together, shall have the powers indicated in Article Eight of the Company’s Bylaws, in particular those from numbers 1 to 46, both included, with the limitation that they may not convey or encumber
real estate or assume in any 

  
 23 

 
form bank or financial debt or assess chattel by pledge, although they may take out or contract bank guarantee bonds to guarantee compliance with obligations or contracts by the Company and/or
apply to bids in which the Company participates as a contractor or service provider, with the authority to sign the promissory notes that are relevant or required to obtain the bank guarantee bonds. Notwithstanding the foregoing, Alberto Morgan
Lavín and Rodrigo Hernán Veloso Castiglione will individually hold and exercise the powers specified in numbers 4), 5), 11), 13), 18), 19), 21), 23), 25), 31), 36),
38), 39), 44), 46) and 46). Said representatives may delegate all or part of this power of attorney and confer and revoke special powers of attorney. Servicios de Transportes Limitada and Inversiones Betmin SpA stipulate that the
formalities indicated in the bylaws will be completed for the appointment of agents by including their names in an abstract of this public deed, which shall be registered in the corresponding Commercial Registry. Special power of attorney:
Notwithstanding the foregoing, without forming part of the bylaws, a special power of attorney is conferred upon Jaime Eduardo Cuevas Rodríguez and Eduardo Ignacio Soler Delano, to represent individually Blue Express
Intl. Servicios de Transporte Limitada before Ministries of the Administration and Governance of the State in 

  
 24 

 PATRICIO RABY BENAVENTE 
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 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
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     EMAIL: notariaraby@notariaraby.cl 
  
 
general, Intendancies and Administrations, Ministry of Education, Ministry of Health, National Health Service, Regional and Provincial Health Offices, Community Health Services, Institute of
Public Health, Regional Offices of Ministries, Municipalities, Municipal Works Offices, Sanitary Services Commission, National Environmental Commission and Regional Environmental Commission, Agricultural and Livestock Service, Institute for
Agricultural and Animal Husbandry Development, General Water Office, Irrigation Offices and other services or authorities in this area, Canal Owner Associations or Irrigator Communities, Social Security and Equalization Funds, Mutual Safety
Associations, Training and Employment Service, Institute of Social Security Normalization (INP), Internal Revenue Service, Customs Service, Customs Bureau, Chilean Detective Force, Chilean Police Force, Armed Forces in general, Treasury General of
the Republic and Regional and Provincial Treasuries, Pension Fund Managers (AFP), health insurance companies (ISAPRES), Ministry of Labor and Social Security, Labor Bureau, Regional Labor Offices and their Provincial and Municipal Inspection
Departments, Ministry of Public Works, Transportation and Telecommunications or the Divisions or Offices or Departments thereof, Roadworks Office and the National Mining Company. Acting in the aforesaid 

  
 25 

 
manner, they may confer special powers of attorney in regard to the aforesaid powers. 7.2. Revocation. Servicios de Transportes Limitada, as the managing partner of the
Company, hereby revokes, effective this date, the appointments of agents of the Company set down in the public deed dated March 3, 2011, executed before Mr. Eduardo Avello Concha and noted under journal number 4197-2007, which was
annotated at the margin of the Company’s registration in the respective Commercial Registry as well as any other full or special power of attorney granted prior to this date, including those that have been granted by Blue Express INTL S.A.
EIGHTH: GOVERNING LAW. DISPUTE RESOLUTION. 8.1. This agreement on assignment of interests is governed by the laws of the Republic of Chile. 8.2. /a/ Any difficulty or dispute arising among the Parties
(Assignors and Transferees) originating in this Agreement, whether regarding its validity, voidance, unenforceability, interpretation, performance, default, effects, termination or relating hereto in any way, directly or indirectly, will be decided
in the Republic of Chile, by arbitration by a mixed arbitrator, who will proceed as a conciliator and rule pursuant to law, appointed by mutual consent of the parties. Failing consent, the appointment shall be made according to the rules of the
Arbitration Center of the Santiago Chamber of Commerce set down in the 

  
 26 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
public deed dated December 10, 1992, executed in the Santiago Notarial Office of Mr. Sergio Rodríguez Garcés the provisions of which were published in the Official Gazette
of Chile on June 22, 1993, including all subsequent amendments, which are deemed known to and accepted by the parties and an integral part of this agreement for all pertinent purposes. The mere fact that any of the parties requests or petitions
for the appointment of an arbitrator by such entity shall make it legally presumable that there is no agreement among the parties on the appointment of the arbitrator. /b/ If the appointment of the arbitral tribunal is made by the Santiago
Chamber of Commerce, the parties confer a special, irrevocable power of attorney upon the Santiago Chamber of Commerce to appoint the arbitrator ex aequo et bono at the written request of any of the parties from among the names on the
arbitrators roster of the Arbitration Center of that Chamber, provided they are attorneys. /c/ All legal remedies shall be available against the arbitrator’s resolution, in particular for clarification, rectification, amendment,
reconsideration, appeal, dismissal because of technicalities or substance, and of complaint wherefore the parties do not waive remedies or instances against such ruling. The arbitrator will be expressly empowered to resolve matters relative to his
venue and/or his 

  
 27 

 
jurisdiction. NINTH: DOMICILE. The parties elect their domicile as the city and borough of Santiago for all purposes hereof and they submit to the arbitral venue stipulated in the
Eighth Clause above. TENTH: EXPENSES. All expenses assessed on this deed will be paid in equal parts by the parties. ELEVENTH: SOLIDARITY. The Assignors assume the obligations that each contracts under this
assignment of interests as their own, jointly and severally. TWELFTH: SPECIAL AUTHORITY. The bearer of a notarized copy of this deed and of an abstract thereof is authorized to request the pertinent registrations,
subregistrations and annotations in the Commercial Registry of the respective Real Estate Registrar, to request publication thereof in the Official Gazette and, in general, to perform all measures that are necessary to legalize this agreement. The
parties also confer a power of attorney, as ample as required by law, upon attorneys María del Pilar Duarte Peña and Rodrigo Hernan Veloso Castiglione in order for them, acting jointly on behalf of the Assignors and Assignees, to
rectify, complement or clarify whatever they deem convenient regarding this public deed in order to obtain a total and complete legalization and formalization of this Company, with the authority to execute and sign public deeds or private
instruments; they are also empowered to execute as many public deeds 

  
 28 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 
and private instruments as they deem convenient to cure the Company according to the rules of law governing on this date or enacted in the future. TRANSITORY CLAUSE: Without it forming a
part of the Company’s Bylaws, the parties agree to the following: INDEMNIFICATION. A 1) The Assignors shall indemnify and hold harmless the Assignees and Blue Express Intl. Ltda. (hereinafter also the “Indemnitees”) from, and
shall pay the Indemnitees any sum resulting from, any loss, liability, claim, injury, expense (including reasonable attorneys’ fees) or reduction in value, whether or not it involves a third-party claim (hereinafter also the
“Damages”) that arise from or in relation to: (i) A material mendacity or inaccuracy of any representation and warranty of the Assignors; or (ii) Any material default by the Assignors on any covenant or obligation under the
Assignment. A 2) The Assignors shall not be liable (for an indemnity or otherwise) in relation to the matters described in Section A 1) above for an amount exceeding the price indicated in the Second Clause of this deed. B 1) The
Assignees shall indemnify and hold harmless the Assignors from, and shall pay the damages arising from or in relation to: (i) A material mendacity or inaccuracy of any representation and warranty of the Assignees; or (ii) any material
default by the Assignees on any covenant or obligation under the Assignment. B 2) The Assignees shall have no 

  
 29 

 
liability (for an indemnity or otherwise) in relation to the matters described in Section 3.3 for an amount exceeding the price indicated in the second clause of this deed.
AUTHORITIES: The authority of the representative of LAN CARGO S.A. is set down in the public deed dated March 10, 2011, executed in the Santiago Notarial Office of Patricio Raby Benavente. The authority of the
representative of INVERSIONES LAN S.A. is set down in the public deed dated March 10, 2011, executed in the Santiago Notarial Office of Mr. Patricio Raby Benavente. The authority of the representative of SERVICIOS DE TRANSPORTES
LIMITADA is set down in the public deed dated March 29, 2011, executed in the Santiago Notarial Office of Francisco Leiva Carvajal. The authority of the representative of INVERSIONES BETMIN SpA is set down in the public deed dated
January 24, 2011, executed in the Santiago Notarial Office of Francisco Leiva Carvajal. Such deeds of authority are not inserted at the request of the parties and because they were known to the attesting notary. This text was drafted by
Andrés Ignacio Parker Parada, attorney. In witness whereof, the parties sign after reading. I attest. 

  
 30 

 PATRICIO RABY BENAVENTE 
           NOTARIO PUBLICO 
 GERTRUDIS ECHENIQUE
30 OF. 44, LAS CONDES 
 5992453 - 5992457 - 5992463 - FAX 5992467 
     EMAIL: notariaraby@notariaraby.cl 
  
 ALEJANDRO DE LA FUENTE GOIC 
 FOR LAN CARGO S.A. 

FOR INVERSIONES LAN S.A. 
 CARLOS ALBERTO HELLER
SOLARI 
 FOR SERVICIOS DE TRANSPORTES LIMITADA 
 FOR INVERSIONES BETMIN SpA 
 NOTARY 

THIS PAGE CORRESPONDS TO THE END OF THE DEED OF ASSIGNMENT OF INTERESTS AND MODIFICATION OF “BLUE EXPRESS INTL. SERVICIOS DE TRANSPORTE
LIMITADA.” 
 NOTARY 

  
 31

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