Brazil to let foreigners buy airlines, agricultural land

Brasilia

PRESIDENT Michel Temer will propose legislation to lift restrictions on foreign ownership of airlines and agricultural land in Brazil as he strives to pull the economy out of a two-year recession, government sources said on Monday.

Mr Temer's centre-right government plans to send Congress a bill allowing 100 per cent foreign ownership of airlines, though investors will be obliged to help expand regional flight services, two sources said.