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
Sun Country Airlines Sun Country also provided ad-hoc charter lift. In 1989 Sun Country became a member of the Civil Reserve Air Fleet (CRAF) and flew many charters to support the Desert Storm operation from 1990 to 1991. After earning profits of $9.7 million for the fiscal year ending June 30, 1991, the airline acquired additional Boeing 727 and DC-10 aircraft. In the mid 1990s, Mark Travel Group, led by Bill LaMacchia, Jr., acquired Sun Country and began changing the focus of the airline. As the DC-10 aircraft aged and required expensive maintenance, the airline gradually reduced the fleet, ultimately retiring the final