UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 6-K

                            REPORT OF FOREIGN ISSUER
                      PURSUANT TO RULE 13a-16 OR 15d-16 OF
                       THE SECURITIES EXCHANGE ACT OF 1934

                           For the month of March 2004

                          (Commission File No. 1-14728)

                                 Lan Chile S.A.
                  (Translation of registrant's name in English)

                        Avenida Americo Vespucio Sur 901
                                     Renca,
                                 Santiago, Chile
                    (Address of Principal Executive Offices)


    (Indicate by check mark whether the registrant files or will file annual
                 reports under cover of Form 20-F or Form 40-F.)

                               Form 20-F  X  Form 40-F
                                         ---          ---

        (Indicate by check mark whether the registrant by furnishing the
        information contained in this form is also thereby furnishing the
       information to the Commission pursuant to Rule 12g3-2(b) under the
                        Securities Exchange Act of 1934.)

                                  Yes       No  X
                                      ---       ---





                                 MATERIAL FACT
                                 -------------


                                                        Santiago, March 22, 2004


Sir
Alejandro Ferreiro Yazigi
Superintendente de Valores y Seguros


Dear Sirs,

Pursuant to articles 9 and 10 of Act No. 18,045, I hereby inform you that Lan
Chile's Board of Directors in an Extraordinary Meeting held on March 19, 2004
acknowledged an eventual secondary offering of approximately 10% of the
company's shares and agreed to provide the necessary assistance to carry out
such secondary offering, authorizing the management to: (i) deliver financial,
accounting and legal information which may be necessary to prepare a prospectus
in accordance with the offering requirements of the Securities and Exchange
Commission of the United States of America ("SEC"); (ii) cooperate in the
preparation and filing before the SEC of the aforementioned prospectus as well
as responding to any comments the SEC may have; (iii) authorize certain officers
to be involved in the due diligence, presentations and road shows that could
take place to respond to future investors' queries; and (iv) generally, to
assist in any other manner that could be reasonably necessary to sell the shares
of the company in a secondary offering.

Finally, Lan Chile S.A. will not incur any costs in connection with this
transaction.


Sincerely,



Luis Ernesto Videla B.
General Manager
Lan Chile S.A.





                                    SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


Date:  March 22, 2004



                                  Lan Chile S.A.

                                  /s/ Alejandro de la Fuente Goic
                                  -------------------------------
                                  By: Alejandro de la Fuente Goic
                                      Chief Financial Officer