News

Minister supports 100% foreign control of airlines

22 de junho de 2016

São Paulo – This Wednesday (22), the interim minister of Planning, Dyogo Oliveira, called as an “important step” for civil aviation the approval of an amendment to the decree that allows foreign airlines to gain 100% control of domestic carriers. On Tuesday (22), Congress’ Lower House approved the decree. Now, it goes to the Senate and if the senators don’t make any changes, the next step is the president’s signature.

“It’s an important step since it opens the possibility for foreign investors to benefit the market, including those less explored, in smaller cities, in less explored routes. This project aligns well with the number of proposals to be drafted at the request of the [Michel Temer, interim] president, which contribute to the productivity of the Brazilian economy and lead to gains in job creation, income and economic activity”, said Oliveira, according to Agência Brasil. Currently, foreign companies can only control up to 20% of domestic airlines.

*Translated by Sérgio Kakitani