Brazil’s Temer to Veto Unlimited Foreign Capital in Airline Sector

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – The Brazilian Senate approved this week a bill which would allow for 100 percent of foreign capital participation in Brazil’s civil aviation, but only after senators ensured that interim president Michel Temer will veto the controversial clause.

"The government will veto this clause," Temer’s Chief of Staff Eliseu Padilha told reporters after a meeting with senators. "We need to gain international confidence for investments in Brazil and generate new jobs. We are thinking of several ways to do this, including the possibility of opening (foreign capital) 100 percent . . .

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