SAO PAULO (Reuters) - Brazil’s lower house of Congress passed on Wednesday a bill allowing for full foreign ownership of Brazilian airlines, another step into confirming a temporary decree on the subject signed last year by former President Michel Temer.
The bill will now head to a Senate vote. Previously, foreign investors could hold a maximum of only 20 percent in local airline companies. The change is seen as important to attract new investment to the companies.
Reporting by Maria Carolina Marcello; Editing by Lisa Shumaker