IATA seeks US antitrust immunity on Venezuela funds

IATA has filed a request for antitrust immunity with the US DoT to allow airlines to discuss options to maintain connectivity to Venezuela. The request comes as a result of the Venezuelan govt’s continued refusal to release airline funds. IATA says the total amount of blocked funds is now US$3.8b. "The economic situation in Venezuela is grave. And it will be made worse if airlines cannot maintain connectivity as the blocked-funds issue drags on,” IATA DG, Alexandre de Juniac, said. “We are now asking the US govt to approve anti-trust immunity for discussions among airlines focused on maintaining connectivity.” Since 2003, Venezuela has operated currency controls that prevent foreign airlines from repatriating funds without govt approval. <br/>