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
Jazz (airline) jackets from its aircraft to lower fuel costs. According to the airline, passengers are to use floating seat cushions in the event of an emergency over water. The airline also stated that the probability of a water landing on the regional airline routes was almost zero, as no operation over great bodies of water occurs except for the Great Lakes and the Gulf of St. Lawrence, and that in all circumstances, the airline always remains within from land, as stipulated in the law, which removes the obligation from carrying any flotation devices. In April 2010, Jazz Aviation LP had reached