IATA urges countries to release blocked airline revenue
Friday, 13 Dec, 2022
0
The International Air Transport Association (IATA) is pushing hard for the release of $6 billion in blocked airline revenue.
It says airline members’ assets are held in more than 27 countries worldwide.
The total has risen by $395 million in the past six months alone.
It urges governments to release trapped airline revenue carriers have earned from ticket and cargo sales.
IATA director general Willie Walsh says more airlines will pull out of markets due to the issue.
“No business can sustain providing service if they cannot get paid and this is no different for airlines,” Walsh said.
Venezuela owes the most at around $3.8 billion.
Over $2 billion is trapped elsewhere with problematic countries including Nigeria, Pakistan and Bangladesh.
Read Full Story
BA flight attendant taken off duty after boozy altercation
Passenger attempts suicide on Bangkok-London flight
Report: Viking Sky outage could have been ‘one of the worst disasters at sea’
Spain hits Booking.com with record €530 million fine
Ambassador cruise ship collides with cargo vessel