Published On: Fri, May 6th, 2016

InselAir requires financial injection of 30 million

InselAirWILLEMSTAD - The Curaçao airline InselAir requested the government of Curaçao a financial injection of 30 million guilders. This is according to a report from the local newspaper Extra. The money is needed so the company can keep its head above water.

The cash injection was formally requested by letter. Earlier it was already clear that the airline again is waiting for the Venezuelan government to pay them 90 million dollars through the foreign exchange regulator CADIVI. That was also the case in 2014. A source at the Venezuelan Commercial Aviation Department INAC confirmed this news, but said that because of the country’s financial problems it will be hard for them to pay this amount now.

In 2014 InselAir was supposed to receive 80 million dollars from Venezuela, which was gradually paid. All payment to foreign countries or companies has to go through CADIVI.

Following this delay in payments, InselAir has gradually reduced some of its flights to Venezuela. According to the Director of Foreign Affairs, Edward Heerenveen, the company cannot completely stop their operations to and from Venezuela, because then it will not receive its money.

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