Brazil flights cap lifted
Brazilian property could be set to benefit from increased tourism as the Latin American nation has liberated air fares to and from its regional neighbours, it has been reported.
The National Civil Aviation Agency (ANAC) announced on Friday (August 29th) it would stop regulating air prices as of today, according to Mercopress.
ANAC claim this "fare liberalisation" will change the aviation industry in the country and should lead to a sustained fall in prices as operators compete among each other.
"We’re hopeful that the increased competition (through discounts and rebates) stimulates the fall in final prices and benefits consumers, particularly in low season," a company statement said.
Flights from Brazil to the rest of the region were subject to a discount cap of 30 per cent up until March 2008 when it was increased to 50 per cent but now the restriction has been lifted airlines can price as they please.
ANAC was established in 2006.
