July 11, 2016 / 6:23 PM / in 2 years

Brazil gov't to push for end to airline foreign ownership cap

BRASILIA, July 11 (Reuters) - Removing limits on foreign ownership of Brazilian airlines is a priority for the interim government and it will lift them through a presidential decree or an act of Congress this year, Transportation Minister Mauricio Quintella told Reuters on Monday.

Facing opposition from some senators, Interim President Michel Temer agreed recently to veto a decree allowing foreigners to own up to 100 percent of Brazilian airlines. That will leave maximum foreign ownership of airlines at 20 percent, but Quintella said the government still wants to lift the cap altogether.

“We will insist on 100 percent ... We have to think now about reopening the debate in the Senate,” said Quintella from his office overlooking the two-chamber Congress in Brasilia. (Reporting by Alonso Soto and Leonardo Goy; Editing by Tom Brown)

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