Blocked airline funds in Africa total US$670m
Airline industry officials continue to express alarm over the amount of foreign currency funds blocked by African govts, as airlines on the continent await repatriation of some US$670m in earnings. Monday, IATA DG Alexandre de Juniac highlighted the challenge to airlines and the traveling public. “This is a big concern for us,” he said. “Many of these countries are facing severe economic challenges. But blocking airline funds puts air connectivity at risk. That, in fact, deepens economic challenges.” De Juniac called for urgent dialogue to mitigate the problem. After a series of negotiations with IATA, the govts of Nigeria and Egypt completely cleared their backlog of blocked funds. Zimbabwe, Angola, and Sudan continue to hold the majority of the blocked funds. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2018-11-27/general/blocked-airline-funds-in-africa-total-us-670m
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Blocked airline funds in Africa total US$670m
Airline industry officials continue to express alarm over the amount of foreign currency funds blocked by African govts, as airlines on the continent await repatriation of some US$670m in earnings. Monday, IATA DG Alexandre de Juniac highlighted the challenge to airlines and the traveling public. “This is a big concern for us,” he said. “Many of these countries are facing severe economic challenges. But blocking airline funds puts air connectivity at risk. That, in fact, deepens economic challenges.” De Juniac called for urgent dialogue to mitigate the problem. After a series of negotiations with IATA, the govts of Nigeria and Egypt completely cleared their backlog of blocked funds. Zimbabwe, Angola, and Sudan continue to hold the majority of the blocked funds. <br/>
