Opens domestic air transport services market to foreign-owned operators
17 Jun 2019
On 17 June 2019, the government issued Law Nº 13.842 that modifies the Brazilian Code of Aeronautics of 1986. The new legislation removes previous limitations to foreign ownership of domestic air carriers. The new law came into effect on that same date.
The new legislation also removes a previous condition requiring air carriers operating domestic flights to entrust senior management exclusively to Brazilian nationals. Furthermore, all acts of incorporation and modification of air carriers operating in Brazil do not longer require approval from the national aeronautic authorities.
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Type:
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Entry and establishment (Ownership and control)
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Industry:
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Services (Transportation and storage)
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Sources:
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Planalto, LEI Nº 13.842, DE 17 DE JUNHO DE 2019, http://www.planalto.gov.br/ccivil_03/_ato2019-2022/2019/lei/L13842.htm, 17 Jun 2019
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Mondaq, Brazil: Sancionada Lei que prevê abertura do Setor Aéreo ao capital estrangeiro , https://www.mondaq.com/brazil/CorporateCommercial-Law/820874/Sancionada-Lei-que-prev-abertura-do-Setor-Areo-ao-capital-estrangeiro, 24 Jul 2019
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Biz Latin Hub, Brazil’s New Law Allows Domestic Flights by Foreign Carriers, https://www.bizlatinhub.com/brazils-new-law-allows-domestic-flights-by-foreign-carriers/, 02 Jul 2019
