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Brazil’s Congress approves foreign ownership of airlines

May 23, 2019 by

Brazil’s Congress on Wednesday night completed action on legislation allowing 100% foreign ownership of airlines operating out of Brazil. The Chamber of Deputies approved the bill late Tuesday and the Senate 24 hours later. The bill now goes to President Jair Bolsonaro for his signature. Previously, the limit on foreign ownership was 20%. Sponsors of the bill said it will attract investment to Brazilian aviation, stimulate competition and boost travel and tourism.

Link to government news agency release.

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