The former president of Chile Sebastián Piñera died Tuesday in a helicopter accident in Lago Ranco, a vacation area 920 km south of Santiago where he spent summer vacations with some of his children and grandchildren.

"With deep regret, we announce the death of the former president of the Republic of Chile, Sebastián Piñera Echeñique" at the age of 74, after his helicopter crashed around 3:00 p.m. (in Lake Ranco, Los Ríos region, while He was traveling with three other people who survived, his office said.

Piñera, twice president (2010-2014 and 2018-2022), was the first right-wing president to come to power by popular election after the dictatorship of Augusto Pinochet (1973-1990).

The government of leftist President Gabriel Boric, who succeeded Piñera in power since March 2022, deeply regretted his death.

"He will have all the republican honors and recognitions he deserves. President Boric has instructed that a state funeral be held and that national mourning be declared," said Interior Minister Carolina Tohá, from the Palacio de la Moneda in Santiago.

Piñera, who had a doctorate in economics from Harvard, was an astute businessman who amassed a fortune in banking and companies in various sectors.

Enthusiastic and always active, he turned 74 on December 1 and was known for piloting his helicopter.

According to friends who were in Lago Ranco, the former president was staying at the family vacation home in Lago Ranco during this period, with his wife Cecilia Morel and some of his four children and nine grandchildren.