The Brazil House of Representatives proposed to remove the law that limits foreign investors from owning more than 20% of the shares of Brazilian carriers. Though this proposal was vetoed by the Senate, Attorney Richard Furey believes that a change to the foreign investment regulation may be forthcoming.
"This legislation could be a significant development for Brazil's aviation sector by potentially promoting greater investment, particularly at a time such as now, when the sector is dealing with increasing operational costs and decreasing passenger demand in some routes," said Mr. Furey.
READ: Brazil delays foreign investment reform (p. 14)
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