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
The Airline Cooperative 140 member airlines and continues to grow. In March 2015, a published map showed there to be:<br> - 147 Airline members worldwide<br> - 66 countries with Airline Cooperative airline members<br> - 116 Airport bases with airlines taking part in the Cooperative<br> The Airline Cooperative The Airline Cooperative (ACO) is a membership organisation formed by a broad group of International Airlines, with the structure of a Cooperative Society. The pivotal aim of the Cooperative is to share non-competitive information, and work together to increase awareness of relevant safety and security concerns, improve efficiency, reduce costs, learn, and grow. As of March