Brazil looks to sell Infraero shares to improve facilities ahead of 2014 World Cup

Brazil's Defence Minister Nelson Jobim stated the government may sell shares in Infraero adding "we may seek to do an initial public offering of Infraero to raise more funds", as it seeks to expand air travel services ahead of the 2014 World Cup and 2016 Olympic Games (Bloomberg, 09-Jan-2011). Governor Sergio Cabral recently stated Rio de Janeiro's airports must be improved to avoid "a disaster" as travellers arrive for the World Cup and Olympics, among USD36 billion in investments the state needs to prepare for the events.