LATAM Chile company to Icarosan and Scandinavian Airlines (49%), which subsequently sold its stake a few years later to local investors. Since 1994, major shareholders have been the Cueto Family and businessman Sebastián Piñera (until 2010), who sold his shares when taking office as President of the Republic of Chile. The approval from the Chilean Anti-Trust Authority resulted in the acquisition of the country's second largest airline Ladeco on August 11, 1995. In October 1998, Lan Chile merged its cargo subsidiary Fast Air Carrier with Ladeco, forming LAN Express. In 1998 LAN Airlines established a joint venture with Lufthansa called LLTT ("Lufthansa-LAN
Airline ticket be created which is used to manage the reservation and check in. It is possible to have multiple passengers in a single passenger name record. Having a reservation does not entitle the passenger to travel. Only when the airline receives the payment, a ticket is issued which is linked to the reservation which allows the passenger to travel. Traditionally, reservation and payment are separate steps, which the time between them are defined in the fare rules when the reservation is made. However, it is more common to require immediate payment on online booking systems. Each passenger must hold his/her own