Brazilian airlines advocate looser foreign capital regulations

Representatives of airlines and other stakeholders at a public hearing before the Chamber of Deputies Committee on Economic Development, Industry, Trade, and Services on Wednesday (May 3) advocated deregulating the industry to allow foreign businesses to have larger stakes at Brazil's airlines. Where exactly the cap should be placed, however, was disputed.

Deputy Lucas Vergílio, who tabled the request to discuss allowing foreign parties to have up to 100% stakes at Brazilian airlines, says there is agreement with the overall idea at the lower house, but the lawmakers still need to discuss how the current limit (20%) should be raised.

Translated by Mayra Borges