Brazilian President Michel Temer on Thursday signed an order opening Brazilian airlines to up to 100% foreign ownership. The order, in the form of a Provisional Measure, takes effect immediately. Congress can later review the order and vote it down. However, aides to Temer said the order has broad support in Congress. The previous limit for foreign ownership of airlines was 20%. A spokesman for Temer said the order resolves a major problem for Brazilian airlines, which is a traditional lack of capital.
Link to government news agency release