In the wake of India's decision to open its aviation sector up to more foreign investment, Brazil’s lower house of Congress has also voted 199 to 71 to allow 100% foreign ownership of local airlines.

While original legislation had capped foreign ownership of local airlines at 20%, subsequent revisions, promulgated by Brazil's new interim leadership, had pushed for that limit to be pushed to 49% before eventually motioning to allow foreign shareholders to have total outright ownership.

If passed into law, the revision is expected to increase the number of operators plying the Brazilian domestic market to the benefit of local consumers while at the same time opening up new possibilities of investment for struggling local carriers such GOL Linhas Aéreas Inteligentes (G3, São Paulo Congonhas).

During the same sitting, the Chamber of Deputies also approved a bill requiring local operators to dedicate up to 20% of their respective services to regional Brazilian flights.

Both bills will now be sent to the Brazilian Senate for approval with a June 29 deadline for them to be passed.