Brazilian President Dilma Rousseff on Tuesday night signed an order boosting the capital limit for foreign investors in the country’s airlines to 49 percent from the previous 20 percent. The order takes effect immediately. However, Congress retains the right to vote down the order, which has been presented by the administration in the form of a proposed law. Brazilian airlines have been suffering from effects of a broad economic slowdown combined with heavy debt loads. Some airline executives have aired the possibility of increasing foreign capital participation as a way to cushion the industry from further troubles.
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