SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934
                               (Amendment No.  )*


                                Lan Airlines S.A.
                                -----------------
                                (Name of Issuer)

                    Shares of Common Stock without par value
                    ----------------------------------------
                         (Title of Class of Securities)

                                 Not Applicable
                                 --------------
                                 (CUSIP Number)

                                    12/31/04
                                    --------
             (Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         |_|      Rule 13d-1(b)
         |_|      Rule 13d-1(c)
         |X|      Rule 13d-1(d)


*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


- -------------------------- CUSIP No. Not applicable 13G - -------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Inversiones Costa Verde Limitada y Compania en Comandita por Acciones 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_| (b)|X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Chile 5. SOLE VOTING POWER NUMBER OF SHARES 87,663,567 BENEFICIALLY OWNED 6. SHARED VOTING POWER BY EACH REPORTING - 0 - PERSON WITH 7. SOLE DISPOSITIVE POWER 87,663,567 8. SHARED DISPOSITIVE POWER - 0 - 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,663,567 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 27.5% 12. TYPE OF REPORTING PERSON* CO *SEE INSTRUCTIONS BEFORE FILLING OUT!

- -------------------------- CUSIP No. Not applicable 13G - -------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Inversiones Costa Verde Limitada 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_| (b)|X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Chile 5. SOLE VOTING POWER NUMBER OF SHARES -0- BENEFICIALLY OWNED 6. SHARED VOTING POWER BY EACH REPORTING 87,663,567 PERSON WITH 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER 87,663,567 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,663,567 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 27.5% 12. TYPE OF REPORTING PERSON* CO *SEE INSTRUCTIONS BEFORE FILLING OUT!

- -------------------------- CUSIP No. Not applicable 13G - -------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Juan Jose Cueto Plaza 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_| (b)|X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Chile 5. SOLE VOTING POWER NUMBER OF SHARES -0- BENEFICIALLY OWNED 6. SHARED VOTING POWER BY EACH REPORTING 87,663,567 PERSON WITH 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER 87,663,567 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,663,567 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 27.5% 12. TYPE OF REPORTING PERSON* IN *SEE INSTRUCTIONS BEFORE FILLING OUT!

- -------------------------- CUSIP No. Not applicable 13G - -------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Ignacio Cueto Plaza 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_| (b)|X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Chile 5. SOLE VOTING POWER NUMBER OF SHARES -0- BENEFICIALLY OWNED 6. SHARED VOTING POWER BY EACH REPORTING 87,663,567 PERSON WITH 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER 87,663,567 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,663,567 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 27.5% 12. TYPE OF REPORTING PERSON* IN *SEE INSTRUCTIONS BEFORE FILLING OUT!

- -------------------------- CUSIP No. Not applicable 13G - -------------------------- 1. NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Enrique Cueto Plaza 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|_| (b)|X| 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Chile 5. SOLE VOTING POWER NUMBER OF SHARES -0- BENEFICIALLY OWNED 6. SHARED VOTING POWER BY EACH REPORTING 87,663,567 PERSON WITH 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER 87,663,567 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 87,663,567 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* |_| 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 27.5% 12. TYPE OF REPORTING PERSON* IN *SEE INSTRUCTIONS BEFORE FILLING OUT!

Item 1(a). Name of Issuer: - --------- Lan Airlines S.A. ("Lan Airlines") Item 1(b). Address of Issuer's Principal Executive Offices: - --------- Avenida Americo Vespucio Sur 901, Comuna de Renca, Santiago, Chile Item 2(a). Name of Persons Filing: - --------- This Statement is filed, pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the persons listed below (the "Reporting Persons"). (1) Inversiones Costa Verde Limitada y Compania en Comandita por Acciones (2) Inversiones Costa Verde Limitada (3) Juan Jose Cueto Plaza (4) Ignacio Cueto Plaza (5) Enrique Cueto Plaza As of December 31, 2004, Inversiones Costa Verde Limitada, Juan Jose Cueto Plaza, Ignacio Cueto Plaza and Enrique Cueto Plaza held their beneficial ownership interests in Lan Airlines through Inversiones Costa Verde Limitada y Compania en Comandita por Acciones, which is a shareholder of Lan Airlines. Inversiones Costa Verde Limitada y Compania en Comandita por Acciones is controlled by Mr. Juan Jose Cueto Plaza, Mr. Ignacio Cueto Plaza, Mr. Enrique Cueto Plaza and others. Item 2(b). Address of Principal Office or, if None, Residence: - --------- (1) El Bosque Norte 0440, Piso 14, Las Condes, Santiago, Chile. (2) Avenida Presidente Riesco 5711, 19th Floor, Santiago, Chile. (3) Avenida Presidente Riesco 5711, 19th Floor, Santiago, Chile. (4) Avenida Presidente Riesco 5711, 19th Floor, Santiago, Chile. (5) Avenida Presidente Riesco 5711, 19th Floor, Santiago, Chile. Item 2(c). Citizenship or Place of Organization: - --------- See Item 4 on pages 2 through 6. Item 2(d). Title of Class of Securities: - --------- Shares of Common Stock without par value. Item 2(e). CUSIP Number: - --------- Not Applicable Item 3. Not Applicable - ------ Item 4. Ownership: - ------ (a) Amount beneficially owned: See Item 9 on pages 2 through 6. (b) Percent of class: See Item 11 on pages 2 through 6. (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: See Item 5 on pages 2 through 6. (ii) Shared power to vote or to direct the vote: See Item 6 on pages 2 through 6. (iii) Sole power to dispose or to direct the disposition of: See Item 7 on pages 2 through 6. (iv) Shared power to dispose or to direct the disposition of: See Item 8 on pages 2 through 6. Item 5. Ownership of Five Percent or Less of a Class: - ------ Not Applicable Item 6. Ownership of More than Five Percent on Behalf of Another - ------ Person: Not Applicable Item 7. Identification and Classification of the Subsidiary Which - ------ Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable Item 8. Identification and Classification of Members of the Group: - ------ Not Applicable Item 9. Notice of Dissolution of Group: - ------ Not Applicable Item 10. Certification: - ------- Not Applicable This filing amends and restates the information previously filed by the Reporting Persons on Schedule 13G on February 13, 2004. This filing on Schedule 13G replaces all previous filings made by the Reporting Persons. Any future changes in ownership by the Reporting Persons of common stock of Lan Airlines that require the filing of an amendment will be reflected in the filing of a Schedule 13G-A to this filing.

SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. INVERSIONES COSTA VERDE LIMITADA Y COMPANIA EN COMANDITA POR ACCIONES February 11, 2005 By: /s/ ENRIQUE CUETO PLAZA ------------------------------- Name: Enrique Cueto Plaza Title: Legal Representative INVERSIONES COSTA VERDE LIMITADA February 11, 2005 By: /s/ ENRIQUE CUETO PLAZA ------------------------------- Name: Enrique Cueto Plaza Title: Legal Representative February 11, 2005 By: /s/ ENRIQUE CUETO PLAZA ------------------------------- Enrique Cueto Plaza JUAN JOSE CUETO PLAZA February 11, 2005 By: /s/ ENRIQUE CUETO PLAZA ------------------------------- Name: Enrique Cueto Plaza Title: Legal Representative IGNACIO CUETO PLAZA February 11, 2005 By: /s/ ENRIQUE CUETO PLAZA ------------------------------- Name: Enrique Cueto Plaza Title: Legal Representative

Index of Exhibits Index of Exhibits ----------------- Exhibit No. Description - ----------- ----------- 1 Joint Filing Agreement by and among Inversiones Costa Verde Limitada y Compania en Comandita por Acciones, Inversiones Costa Verde Limitada, Juan Jose Cueto Plaza, Ignacio Cueto Plaza and Enrique Cueto Plaza.+ 2 Power of Attorney by Inversiones Costa Verde Limitada y Compania en Comandita por Acciones, Inversiones Costa Verde Limitada, Juan Jose Cueto Plaza and Ignacio Cueto Plaza.+ - ------------------------ + Incorporated by reference to the Schedule 13G for the Reporting Persons, File No. 005-50478, filed on February 13, 2004.