<SEC-DOCUMENT>0001615774-16-006412.txt : 20160908
<SEC-HEADER>0001615774-16-006412.hdr.sgml : 20160908
<ACCEPTANCE-DATETIME>20160722173901
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ACCESSION NUMBER:		0001615774-16-006412
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160722

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LATAM AIRLINES GROUP S.A.
		CENTRAL INDEX KEY:			0001047716
		STANDARD INDUSTRIAL CLASSIFICATION:	AIR TRANSPORTATION, SCHEDULED [4512]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		PRESIDENTE RIESCO 5711 20TH FLOOR
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			999999999
		BUSINESS PHONE:		5625652525

	MAIL ADDRESS:	
		STREET 1:		PRESIDENTE RIESCO 5711 20TH FLOOR
		STREET 2:		LAS CONDES
		CITY:			SANTIAGO
		STATE:			F3
		ZIP:			999999999

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Lan Airlines SA
		DATE OF NAME CHANGE:	20041015

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LAN CHILE SA
		DATE OF NAME CHANGE:	19990427

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHILEAN AIRLINE SA  LANCHILE
		DATE OF NAME CHANGE:	19971010
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>LATAM AIRLINES GROUP S.A.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Presidente Riesco 5711, 20<SUP>th</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Las Condes</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Santiago, Chile</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: left"><B><U>VIA EDGAR AND EMAIL</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: right">July 22, 2016</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Susan Block, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">John Stickel, Esq.<BR>
United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Division of Corporation Finance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">100 F Street, N.E.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">Washington, D.C. 20549-0404</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">Re:</TD><TD STYLE="text-align: left"><B>LATAM Airlines Group S.A.</B><BR>
<B>Registration Statement on Form F-4 </B><BR>
<B>Filed May 26, 2016</B></TD></TR>                                   <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: left"><B>File No. 333-211652</TD></TR>
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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: left"></TD></TR>                                                                                                                         <TR STYLE="vertical-align: top">
<TD>&nbsp;</TD><TD>&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Dear Ms. Block and Mr. Stickel:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to the Registration Statement on Form F-4 (File No. 333-211652), which was filed with the SEC on May 26, 2016 (the &ldquo;<B>Registration
Statement</B>&rdquo;) relating to the offer to exchange (the &ldquo;<B>Exchange Offer</B>&rdquo;) the Company's Class A and Class
B Certificates Series 2015-1 (collectively, the &ldquo;<B>New Certificates</B>&rdquo;), which have been registered under the Securities
Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;), pursuant to such Registration Statement, for the Company's outstanding
Class A and Class B Certificates Series 2015-1 (collectively, the &ldquo;<B>Old Certificates</B>&rdquo;), which were privately
placed with Citigroup Global Markets Inc., Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Natixis Securities Americas
LLC on May 14, 2015 and were not registered under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company hereby informs
the Staff that it is registering the Pass Through Certificates, Series 2015-1 in reliance on the Staff position enunciated Exxon
Capital Holding Corp., SEC No-Action Letter (April 13, 1988) (the &ldquo;<B>Exxon Capital Letter</B>&rdquo;), as well as the Morgan
Stanley &amp; Co. Inc., SEC No-Action Letter (June 5, 1991) and Shearman &amp; Sterling, SEC No-Action Letter (July 2, 1993) and
makes the following representations:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(i)&#9;The Company has not entered
into any arrangement or understanding with any person to distribute the New Certificates to be received in the Exchange Offer and,
to the best of the Company's information and belief, each entity participating in the Exchange Offer is acquiring the New Certificates
in its ordinary course of business and is not engaged in, does not intend to engage in and has no arrangement or understanding
with any person to participate in the distribution of the New Certificates to be received in the Exchange Offer. In this regard,
the Company will make each person participating in the Exchange Offer aware (through the Exchange Offer prospectus or otherwise)
that if the Exchange Offer is being registered for the purpose of secondary resales, any securityholder using the Exchange Offer
to participate in a distribution of the New Certificates to be acquired in the Exchange Offer (i) could not rely on the Staff&rsquo;s
position enunciated in the Exxon Capital Letter or similar interpretive letters to similar effect and (ii) must comply with registration
and prospectus delivery requirements of the Securities Act in connection with a secondary resale transaction. The Company acknowledges
that such a secondary resale transaction should be covered by an effective registration statement containing the selling securityholder
information required by Item 507 of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(ii)&#9;The Company will also make
each person participating in the Exchange Offer aware (through the Exchange Offer prospectus) that any broker-dealer who holds
Old Certificates acquired for its own account as a result of market-making activities or other trading activities, and who receives
New Certificates in exchange for such Old Certificates pursuant to the Exchange Offer, may be a statutory underwriter and must
deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of such New Certificates, which
prospectus may be the prospectus for the Exchange Offer so long as it contains a plan of distribution with respect to such resale
transactions (such plan of distribution need not name the broker-dealer or disclose the amount of New Certificates held by the
broker-dealer).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify">(iii)&#9;The Company will include in
the transmittal letter or similar documentation to be executed by an exchange offeree in order to participate in the Exchange Offer
the following additional provisions: (i) if the exchange offeree is not a broker-dealer, a representation that it is not engaged
in, and does not intend to engage in, a distribution of the New Certificates; and (ii) if the exchange offeree is a broker-dealer
holding Old Certificates acquired for its own account as a result of market-making activities or other trading activities, an acknowledgment
that it will deliver a prospectus meeting the requirements of the Securities Act in connection with any resale of New Certificates
received in respect of such Old Certificates pursuant to the Exchange Offer. The transmittal letter or similar documentation also
will include a statement to the effect that by so acknowledging and delivering a prospectus, a broker-dealer will not deemed to
admit that it is an &ldquo;underwriter&rdquo; within the meaning of the Securities Act. In addition, the transmittal letter will
also include a representation that neither the broker-dealer nor any beneficial owner has any arrangement or understanding with
any person to participate in the distribution of the Old Certificates or the New Certificates within the meaning of the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Should the Staff
have additional questions or comments regarding any of the foregoing, please do not hesitate to contact the undersigned at 011
(5622) 565-8959.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0.25in 255.15pt; text-align: justify; text-indent: -0.55pt">Very
truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt 255.15pt; text-align: justify; text-indent: -0.55pt"><U>&#9;/s/
Claudia Alejandra Pavez Gonzalez&#9;</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 255.15pt; text-align: justify; text-indent: 0in">Claudia Alejandra
Pavez Gonzalez,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 255.15pt; text-align: justify; text-indent: 0in">Associate General
Counsel &ndash; Corporate and Contracts</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">cc:</TD><TD STYLE="text-align: left"><I>Clifford Chance US LLP</I><BR>
Gary Brooks</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Emily DiStefano</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Clark Spencer</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: 0in">Rebecca Isaacs</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: left; text-indent: -0.5in">&nbsp;</P>



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