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 codes may not always be the same as the country in which the firm is officially incorporated or registered. There are many other airlines in business whose radio call signs are more obviously derived from the trading name. The callsign should ideally resemble the operator's name or function and not be confused with callsigns used by other operators. The callsign should be easily and phonetically pronounceable in at least English, the international language of aviation. For example, Air France's callsign is "Airfrans"; 'frans' is the phonetic spelling of 'France'. The airline accounting code, or prefix code, is a 3-digit number, referenced