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
Parks College Airline Air Lines". Ozark Air Lines had recently lost its operating certificate from the CAB and purchased the Parks airline only days into its new service to gain its certificate and routes. Ozark would eventually merge with Trans World Airlines in 1986, which in turn would merge with American Airlines in 2001. Mid-Continent would later become part of Braniff International Airways which ceased operations in 1982. The Parks College Airline fleet consisted of the following aircraft as of 1950: Parks College Airlines operated over 17 years without incident. Parks College Airline Parks College Airline was an defunct airline based in the