It is possible if another company (in your example based in Brazil) is also taking over stocks from the company in question. I am not 100% sure but I think, more than 25% of the stocks must stay in Brazil.
It’s legal home country is no longer Brazil. To get it back to Brazil the largest number of shares have to be in Brazil
Bizarrely this airlines main shareholder is South Korean and has 42.2% of the company. There are two Brazilian airlines that have 31.9% and 10.4% of the company. This totals 42.3% and just over the main shareholders.
The airline is transporting passengers domestically in Brazil.
So 42.3% is Brazil,42.2% is South Korea. That means that the largest number of shares are in Brazil and therefore Brazil is the legal country, and has Brazilian traffic rights
There are a number of shares available on this airline at the moment. Obviously I don't know who's selling, but if it's a Brazilian airline, and I buy 0.2% of the airline, it's legal home will go to South Korea, and all Brazilian flights will need to be cancelled?
There are a number of shares available on this airline at the moment. Obviously I don't know who's selling, but if it's a Brazilian airline, and I buy 0.2% of the airline, it's legal home will go to South Korea, and all Brazilian flights will need to be cancelled?
Yes, if the seller is one of the Brazilian companies then it would lose traffic rights.
There are a number of shares available on this airline at the moment. Obviously I don't know who's selling, but if it's a Brazilian airline, and I buy 0.2% of the airline, it's legal home will go to South Korea, and all Brazilian flights will need to be cancelled?
What matth said, but given how they clearly thought this through (42.3% vs 42.2%), I would be very surprised if either of the two Brazilian companies (who are clearly part of the deal) would sell shares now. Most likely a third-country holding.
Now, if a South Korean competitor decided to be cheeky, they could cause some trouble...
Who knows, maybe the traffic rights were given by accident and one of the Brazilian companies is now trying to cut out a competitor. We would know better if we were able to see stock transaction history, that would provide more clues.