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Prior to the merger with LAN, the corporate closed its capital, transferring its shares to LATAM Airlines Group. The airline withdrew from the Star Alliance, and joined Oneworld, effective 31 March 2014. However, in August 2015, it was announced that the two airlines would absolutely rebrand as LATAM, with one livery to be applied on all plane by 2018. Before the takeover, TAM was Brazil’s and Latin America’s largest airline. Shares in the company have been traded on the São Paulo Exchange (BM&F Bovespa) and New York Stock Exchange as “TAM”. Its headquarters are in São Paulo, working scheduled providers to locations inside Brazil, in addition to international flights to Europe and different elements of North and South America.