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Brazilian President Michel Temer signed a decree allowing foreign companies to own 100 percent of local airlines, in a move to increase foreign investments in the country and improve the travel industry and the influx of tourists into the country, as expected by the Tourism minister.
On the news, shares of Brazilian carriers GOL and Azul, which started trading just the day before jumped on the stock market, on expectations that foreign companies or carriers might acquire a major part or the majority of those companies.