GENEVA - The International Air Transport Association (IATA) urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate close to nearly $1 billion in blocked funds from the sale of tickets, cargo space, and other activities, AviationPros reports. Continue reading original article.
The Intelligent Aerospace take:
August 26, 2021 -“Governments are preventing nearly $1 billion of airline revenues from being repatriated. This contravenes international conventions and could slow the recovery of travel and tourism in affected markets as the airline industry struggles to recover from the COVID-19 crisis. Airlines will not be able to provide reliable connectivity if they cannot rely on local revenues to support operations. That is why it is critical for all governments to prioritize ensuring that funds can be repatriated efficiently. Now is not the time to score an ‘own goal’ by putting vital air connectivity at risk,” said Willie Walsh, IATA’s director general.
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Jamie Whitney, Associate Editor
Intelligent Aerospace
