Companies of foreign capital can form airlines
Santo Domingo.-The Chamber of Deputies passed the new Civil Aviation Law that allows the President to make exceptions for companies of 100 percent foreign capital to form national airlines.
The previous legislation stated that an airline had to have 35 percent Dominican capital.
The airline Gol, of Brazilian capital, aims to take advantage of the current legislation by midyear, forming Goal Dominicana, and install its regional hub in Dominican Republic.
Since the Senate had already approved the bill, the legislation only requires the President’s signature to take effect.
The new legislation also specifies that the Dominican Civil Aviation Institute (IDAC) is the country’s official representative regarding civil aviation policy.
Source: Dominican Today
Category: DR News |