After a law firm objected to the involvement of several officials, the process was halted.
The sale model still needs to be approved by the congress and by Brazil's federal audit court TCU.
Colombian officials expect an increase of around US$400mn, as two more projects will reach financial closure soon.
French company Vinci Airport won the concession for Salvador airport in 2017.
Brazil's richest and most populous state needs to invest heavily in the next 20 years to guarantee services for all, according to an NGO.
The peso fell to its lowest level in months Thursday amid growing concerns over Nafta and the upcoming elections, with high-level talks set for Thursday and Friday in Washington. A key business group also warned officials to tread carefully with any further concessions.
The company, which currently covers 32% of the country, will focus on faster deployment of its own network.
Presidential candidate Andrés Manuel López Obrador, who proposed a roundtable discussion on the airport's technical feasibility, suspects political pressure behind the cancellation.