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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F □ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
OR

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2006 OR □ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACTOF 1934 for the transition period from to Commission File Number: 1-14728

Lan Airlines S.A.
(Exact name of registrant as specified in its charter)

Lan Airlines S.A.
(Translation of registrant’s name into English)

Republic of Chile
(Jurisdiction of incorporation or organization)

Presidente Riesco 5711, 20th Floor Las Condes Santiago, Chile
(Address of principal executive offices)Securities registered or to be registered pursuant to Section 12(b) of the Act:
Title of each class: American Depositary Shares (as evidenced by American Depositary Receipts), each representing five shares of Common Stock, without par value Name of each exchange on which registered: New York Stock Exchange

Securities registered or to be registered pursuant to Section 12(g) of the Act:
NoneSecurities for which there is a reporting obligation pursuant to Section 15(d) of the Act:
None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the annual report: 318,909,090 Indicate by check mark if the registrant is a well-known seasoned issuer, as defines in Rule 405 of the Securities Act. Yes No □ Ifthis report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934. Yes □ No Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for suchshorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes No □ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of ‘‘accelerated filer and large accelerated filer’’ in Rule 12b-2 of the Exchange Act. (Check one): LargeAccelerated filer Accelerated filer □ Non-Accelerated filer □

Indicate by check mark which financial statement item the registrant has elected to follow: Item 17 □ Item 18 If this is an annual report, indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes □ No

TABLE OF CONTENTS PRESENTATION OF INFORMATION . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . FORWARD LOOKING STATEMENTS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . GLOSSARY OF TERMS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . PART I ITEM 1. ITEM 2. ITEM 3. ITEM 4. ITEM 4A. ITEM 5. ITEM 6. ITEM 7.ITEM 8. ITEM 9. ITEM 10. ITEM 11. ITEM 12. Identity of Directors, Senior Management and Advisers. . . . . . . . . . . . . . . . . . . . . . . Offer Statistics and Expected Timetable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Key Information . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Information onthe Company . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Unresolved Staff Comments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Operating and Financial Review and Prospects . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Directors, Senior Management and Employees. . . . . . . . . . . . ....