Published On: Mon, Dec 12th, 2016

Venezuelan debt to airlines in Latin America: 3.8 billion dollars

maiquetiaairportCARACAS – The Venezuelan debt to Latin American airlines, including InselAir and Tiara Air totals 3.8 billion dollars. This is according to the International Air Transport Association (IATA) in their preview of the year 2017.

“The refusal of the Venezuelan foreign exchange authority CADIVI to pay the tickets sold in the Venezuelan currency Bolivars in dollars to the airlines is contrary to international obligations,” says the IATA representative.

The aviation organization already announced in September this year that it wants to help the airlines to get their money back but so far these efforts have been to no avail. Even despite the measures taken by the United States.

The huge debt of Venezuela to the airlines, as known, has already led to great problems for the Curaçao aviation company InselAir and the bankruptcy of the Aruban airline Tiara Air. Venezuela was the biggest market for both these airlines.

Click Tag(s) for Related Articles: