Published On: Sat, Sep 24th, 2016

IATA wants to increase pressure CADIVI funds

InselAirWASHINGTON - IATA will help airlines, including InselAir to retrieve their money from Venezuela. The interest organization has requested assistance from the United States to achieve this. Venezuela owes about 3.8 billion dollars to all the airlines that are operating or used to operate to the country.

These funds are the so-called CADIVI-funds. Tickets are sold exclusively in bolivars since 2003. Airlines should get their money in dollars through CADIVI, but that has not happened yet. Meanwhile, the debt has accumulated in the billions.

According to IATA, this issue is already being discussed for years, but as of now, little has been done about it. With the U.S. pressure, the international aviation organization would like to see a change in the way Venezuela deals with its payments to the airlines.

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