InselAir flying with smaller aircrafts to Venezuela
WILLEMSTAD – The local aviation company InselAir has recently started operating with smaller aircrafts to its destinations in Venezuela. That is one of the measures that the airline is taking against to the rising debt the foreign currency regulator CADIVI has with the company. InselAir now has tens of millions of dollars in credit from Venezuela.
This shows that the airline will not invest more than it is necessary in Venezuela and the risk spreads. InselAir has five destinations in Venezuela: Barquisimeto, Caracas, Las Piedras, Maracaibo and Valencia. Most flights are normally performed by an MD, complemented with a Fokker 50.
InselAir is currently focused on other destinations. The International Relations Director, Edward Heerenveen is currently in Miami to negotiate flights between Miami and Havana.
InselAir already announced earlier that flights to Venezuela can no longer be booked online. This is because credit card fraud is frequently committed in the South American country. Airlines are obliged to sell tickets in the local currency, the Venezuelan Bolivar.
CADIVI then ensures that the proceeds will be paid in dollars. High inflation and regular devaluations make profits in local currency almost impossible.