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The origins of LAN Airlines go back to 1929 when the company was established by the Chilean government to provide air transport for passengers, cargo and mail. In 1946 the company began international operations with flights to Buenos Aires , Argentina , later launching services to the United States in 1958 and Europe in 1970. In 1989, after 60 years as a state-owned enterprise, the privatization of LAN Airlines was initiated with the sale of 51% of the airline's equity to local investors and Scandinavian Airlines System (SAS). This process was completed in 1994 when the current controlling shareholders together with other major shareholders, acquired 98.7% of the company's shares, including those that were still controlled by the government. Since that time LAN Airlines has been vigorously engaged in the expansion and internationalization of its operations, achieving sustained revenue growth and consistent profitability despite the many challenges the industry has had to face. In addition, LAN Airlines has created an extensive regional network, having established passenger operations in Peru, Ecuador and Argentina and cargo operations in Brazil and Mexico. The company changed its corporate image in 2004, officially adopting the name "LAN Airlines S.A". The change aims to reflect the values and attributes common to all of the airlines making up the LAN Airlines alliance and emphasizes the organization's internationalization strategy.