World Economy

Full Foreign Ownership

Full Foreign OwnershipFull Foreign Ownership

The Brazilian government is drafting a decree to allow 100% foreign ownership of local airlines, a transportation ministry spokesperson said, a move that could attract investors to a recession-beaten industry, Reuters reported. Newspaper Valor EconUmico, citing three unnamed aides to President Michel Temer, reported that the presidential decree would boost regional aviation with subsidies favoring smaller planes such as those made by Embraer. The regional plan is not necessarily related to the decree, the ministry spokesperson said, adding that next week the government could announce investments in several airports. The foreign ownership decree may be published by the end of January, according to Valor.

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