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Brazil raises foreign ownership limit on airlines to 49 pct
2016-03-02 13:32:23| Airlines - Topix.net
Brazil has lifted the legal limit on foreign ownership of local airlines to 49 percent, from 20 percent previously, according to a presidential decree published in the official gazette on Wednesday, opening the door to more help for troubled carriers. Weak domestic demand and the sharp depreciation of Brazil's currency have caused deep operating losses, forcing airlines to cut routes and jobs and seek foreign partners.
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Category:Transportation and Logistics