Brazilian President Dilma Rousseff has signed a decree that allows an increase of foreign ownership in local airlines to 49% from 20%, a government source told Reuters. The decision could allow foreign groups to bolster investment in Brazilian airlines struggling with a deepening recession and a sharp depreciation of the real currency. The decree is subject to ratification by Congress. The decision reflects a major policy shift by Rousseff to open up one of the Western hemisphere’s most-closed economies and bring in badly needed capital to halt a recession that is entering its second year.
