IATA in talks with Angola over blocked US$500m
Angola is withholding more than US$500m in revenue generated by international airlines in the country, IATA said Thursday. Africa's No. 2 crude oil producer, which is facing a shortage of foreign currency reserves, has previously not paid airlines, including South African Airways and Emirates the money due to them. The DG of IATA said blocked funds and denied access to foreign exchange in Africa were growing problems. "IATA, with the industry, is working closely with the governments of Angola and other countries on ways to make these withheld funds available. We welcome the commitment yesterday by Angola’s National Bank to work with IATA to find a practical solution to release blocked funds," said Alexandre de Juniac. IATA forecasts a trebling in the size of Angola’s air transport market to 7.1m passengers a year by 2036. <br/>
https://portal.staralliance.com/imagelibrary/news/hot-topics/2018-01-19/general/iata-in-talks-with-angola-over-blocked-us-500m
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IATA in talks with Angola over blocked US$500m
Angola is withholding more than US$500m in revenue generated by international airlines in the country, IATA said Thursday. Africa's No. 2 crude oil producer, which is facing a shortage of foreign currency reserves, has previously not paid airlines, including South African Airways and Emirates the money due to them. The DG of IATA said blocked funds and denied access to foreign exchange in Africa were growing problems. "IATA, with the industry, is working closely with the governments of Angola and other countries on ways to make these withheld funds available. We welcome the commitment yesterday by Angola’s National Bank to work with IATA to find a practical solution to release blocked funds," said Alexandre de Juniac. IATA forecasts a trebling in the size of Angola’s air transport market to 7.1m passengers a year by 2036. <br/>
