Brazil Lawmaker Wants Airlines Open to Foreigners, Estado Says
By Andre Soliani -
2011-10-23T13:33:43Z
A Brazilian lawmaker who is sponsoring a bill to overhaul civil aviation rules said he plans to put an end to limits on foreign capital holdings in domestic airlines, O Estado de S.Paulo reported today, citing an interview with the congressman.
The proposal will ensure that the management of the company will remain in the hands of domestic investors, lawmaker Bruno Araujo told the Sao Paulo-based newspaper. Foreigners currently cannot own more than 20 percent of Brazilian airlines, Estado said.
To contact the reporters on this story: Andre Soliani in Brasilia at asoliani@bloomberg.net
To contact the editor responsible for this story: Joshua Goodman at jgoodman19@bloomberg.net
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