In last June, the full Chamber of Deputies of Brazil approved an executive order allowing foreign investors up 100% ownership of Brazilian airlines, compared to the current 20% limit.
The approved order stipulates that foreigners can hold up to 100% stake of a Brazilian airline through bilateral reciprocity agreements, meaning that the investor’s country of origin also allows Brazilians to acquire 100% ownership.
According to Adam Global President for Latin America, Mr. Marcus Buschmann, the decision will show the world that Brazil will defeat the crisis and be much friendlier to foreigner capital. Therefore Brazil can also receive more international companies that want to operate the Brazilian market.
Brazil will become, along with countries like Chile and Singapore, one of the few nations that give total freedom to foreigners to control national carrier.