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Brazil Senate OKs open skies accord with US

Brazil's Senate approved an open skies agreement with the U.S., removing the hurdle to a partnership between American Airlines Group Inc. and LATAM Airlines Group SA, the two largest carriers in the region, Reuters reported.

The agreement, which will allow an unlimited number of flights between the two countries, will move to President Michel Temer, who is expected to sign it into law. The deal is expected to lead to increased interest by the U.S. airline industry in the huge Brazilian market, according to Reuters.

Brazil's antitrust agency already approved the partnership between American Airlines and LATAM, but the accord needs to be signed into law for the U.S. Department of Transportation to approve a business deal between the two airline companies.

The Open Skies agreement was signed in 2011, but it faced opposition on fears of competition from U.S. carriers. Some local carriers back the deal, including GOL Linhas Aéreas Inteligentes and Avianca Brasil.