December 20, 2017 / 1:08 PM / a year ago

Brazil open to gradual end of limits on foreign airline investment

BRASILIA, Dec 20 (Reuters) - The government of Brazilian President Michel Temer is open to negotiating with Congress a gradual end to limits on foreign investment in local airlines, Civil Aviation Secretary Dario Lopes said on Thursday.

He said the aim would be to allow foreigners to eventually own 100 percent of Brazilian airlines, compared to a current ceiling of 20 percent. On Wednesday, the lower house of Congress approved an Open Skies agreement between Brazil and the United States that was signed in 2011 and now needs Senate approval for final ratification. (Reporting by Leonardo Goy)

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