Foreign investment in aviation

There seems to be an increasing interest of Brazilian authorities to open the economy for foreign investors. While Federal Law No. 7,565, of December 19th, 1986, is still a constraint for such an investment in the aviation business (it allows foreigners to hold a stake no bigger than 20% in Brazilian aviation companies), Bill No. 2/2015, of the Federal Senate, aims at letting go altogether of this market reserve for nationals. The rather far-fetched story of Mr. David G. Neeleman, boss of Azul, a Brazilian company, provided an extra push. The recital of the Bill (in Portuguese here) alludes to the fact that Mr. Neeleman, son of an international correspondent, was born in Brazil and never lost Brazilian citizenship whilst living in the United States.