The Brazilian Ministry of Tourism announced that Air Europa Lineas Aereas has registered a company based in Brazil, marking the first time an international airline establishes operations in the country. Brazil’s Minister of Tourism, Marcelo Álvaro Antônio, stated: “This confirms the opening of the Brazilian market to foreign investment.” Brazil has set a goal to increase foreign tourists 
from 6.6 million to 12 million by 2022 and to raise international tourism revenue from $6.5 billion to $19 billion.
The previous law limited foreign ownership in a Brazilian airline to 20%. The new law eliminates this restriction. Foreign airlines (or any external investor) can increase their stakes in Brazilian airlines. The law also relaxes the rules that restrict domestic flights to Brazilian flag carriers. This could quickly lead to “foreign” airlines serving domestic routes.
Gol is currently the largest domestic carrier in Brazil. Delta holds a 9.4% stake in the company. United Airlines owns 8% of Azul, and Qatar Airways holds 10% of LATAM.