At the request of President Dilma Rousseff, the Civil Aviation Department (SAC) is conducting studies into the raising of the limit of foreign capital in airline companies. There is no urgency, however, for the Government to make its decisions.
The Department’s technical team favors a change from 20% to 49% in the ceiling for overseas investment in the companies, but the matter has still not reached a consensus within the Government. In addition, the political scenario needs to be taken into consideration.
Due to the serious political crisis that currently exists between the President and the National Congress, the movement of bills of law through the lawmaking channels has become unpredictable, and the Government has avoided the risk of sending proposals that could be seriously modified.
In 2013, the matter was also the object of studies. On that occasion, as well as the options for increasing the limit of overseas capital to 49% or even 100%, the Government considered a third possibility: a model for the opening of capital similar to that existing in the strategic defense industries, which require national control, but allow for greater foreign investment. Currently, the ceiling in the air transport sector stands at 20% of the shares with voting rights.