TAM Airlines evolved from a miniature air-taxi operator to one of Brazil's biggest airlines in the space of thirty-eight years, and became the biggest airline in Brazil since Varig went bankrupt in 2006. TAM is one of the airlines under the LATAM Airlines Group, which was formed by the merger of the holding companies of both LAN Airlines of Chile, and TAM Airlines of Brazil. LATAM owns airlines from Brazil, Argentina, Chile, Colombia, Ecuador, Peru, and Paraguay collectively through LAN and TAM's subsidiaries.