After a long day and some intense discussions with the LAN personnel, it seems that we may eventually with a bit of luck fly, if there are any planes leaving to the Galapagos.
The way it works in LAN's world is interesting: as tickets' holders from 11/03, we would have priority over the passengers who are flying on 12/03... and kick them out of their seats.
It's a very much customer focused approach. We'll see how it goes.
On its side, the local competitor airline TAME has taken a boring approach by organising a couple of extra flights.
As of 11pm local time (4am GMT) we "will" fly as no tsunami will hit the Islands. See article in Spanish.