Brazil - U.S. Business Council

  • About
    • Leadership
    • Meet the Team
    • BUSBC Policy Agenda
    • Events
  • Policy Agenda
  • Newsroom
    • Publications
    • Photo Gallery
  • Membership
    • Member Companies
    • Sponsorships
  • DID Member Login

Brazil President steps away from foreign airline ownership

June 30, 2016 by

The Brazilian Senate on Wednesday night passed a bill allowing foreign investors to own up to 100 percent of voting shares in Brazilian-based airlines, but a spokesman for Acting President Michel Temer said the chief executive will veto the legislation. The bill passed the Chamber of Deputies earlier this month. Currently, foreign investors may hold up to 20 percent of voting shares in Brazilian airlines. The administration-sponsored bill would have hiked that level to 49 percent but an amendment presented in the lower house upped the ante to 100 percent. The Senate late Wednesday passed the Chamber of Deputies version. A spokesman for Temer said the president will veto the bill and then re-introduce it with the 49 percent provision.

Link to government news agency release

More Testimonials

Filed Under: Brazil News

Brazil In The News

Brazil-U.S. Business Council

View All Brazil News Alerts

Connect With Us

Brazil-U.S. Business Council
1615 H Street NW
Washington, DC 20062

Phone: 202-463-5729
Email: brazilcouncil@uschamber.com

  • Facebook
  • LinkedIn
  • Twitter
Copyright © 2022 | Brazil-U.S. Business Council | Privacy Policy