Governments Urged to Free Blocked Airline Funds
Airline officials have called on governments to abide by international agreements and treaty obligations to enable airlines to repatriate revenues from ticket sales and other activities.
According to IATA, the amount of airline funds blocked from repatriation totalled $4.9 billion at the end of 2017, which was down seven per cent compared to year-end 2016.
However, airline funds remain blocked in some 16 countries.
The top five markets with blocked funds are:
- Venezuela, where airlines have been unable to repatriate $3.78 billion.
- Angola, where approximately $386 million remains blocked.
- Sudan, where $170 million is blocked.
- Bangladesh, where $95 million is blocked.
- Zimbabwe, where $76 million is blocked.
According to IATA, the amount of airline funds blocked from repatriation totalled $4.9 billion at the end of 2017, which was down seven per cent compared to year-end 2016.
However, airline funds remain blocked in some 16 countries.
The top five markets with blocked funds are:
- Venezuela, where airlines have been unable to repatriate $3.78 billion.
- Angola, where approximately $386 million remains blocked.
- Sudan, where $170 million is blocked.
- Bangladesh, where $95 million is blocked.
- Zimbabwe, where $76 million is blocked.
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