12
Dec
Staff Writer The International Air Transport Association (IATA) says governments are blocking US$1.2 billion in airline funds from repatriation as of the end of October. The figure shows a small improvement of US$100 million since April, but 93% of the trapped funds remain in Africa and the Middle East. IATA has urged governments to remove all restrictions on currency repatriation and allow airlines access to their revenues in US dollars. These revenues come from ticket sales, cargo sales and other activities and are protected under bilateral air service agreements and treaty commitments. Restrictions affecting airlines include delays in approval, inconsistent…
