Published On: Mon, May 2nd, 2016

Caracas to pay Insel Air another 90 million dollars

InselWILLEMSTAD – Once again, the South American country Venezuela is heavily in debt to InselAir. Director of Foreign Affairs, Edward Heerenveen has indicated that the Venezuelan foreign exchange authority CADIVI still has to pay 90 million dollars to the airline.

A situation which is comparable to 2013, when a debt was comprised of 70 million dollars because of the financial problems of the country.

Venezuela ultimately paid a large portion of the outstanding amount in 2014, but now the debt is incurred again. InselAir has reduced the number of flights to destinations in the neighboring country, but Heerenveen stressed that the company will remain flying to and from Venezuela, though not to jeopardize its position in the negotiations. Heerenveen said that he has good relations with the authorities in Caracas.

Furthermore InselAir is looking to expand its network in the countries around Suriname, given the current poor economic conditions in Venezuela.

Venezuela is indeed in a serious financial situation. The country cannot even pay for it’s own money. The political situation is also in a crisis, now that the opposition is in the process of gaining support for a referendum to dismiss the president and his government.

The South American country also owes money to various other airlines and according to a close source in the Venezuelan Aviation Department, the INAC, InselAir is not a priority right now. “Venezuela just doesn’t have the money to pay them!” the expert in Venezuelan aviation said.

Recently InselAir has been going through some tough times with delays becoming practically a daily routine. The airline has various aircrafts either grounded or in C-check, which indicates that the company can desperately use the 90 million dollars “stuck” in Venezuela.

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