Translations:
Los fondos bloqueados de las aerolíneas amenazan la conectividad aérea (pdf)
Les fonds bloqués des compagnies aériennes menacent la connectivité (pdf)
Bloke Edilen Havayolu Fonları Bağlantıyı Tehdit Ediyor (pdf)
国际航协：冻结航空公司资金的做法威胁连通性 (pdf)
Istanbul - The International Air Transport Association (IATA) warned that rapidly rising levels of blocked funds are a threat to airline connectivity in the affected markets. The industry’s blocked funds have increased by 47% to $2.27 billion in April 2023 from $1.55 billion in April 2022.
“Airlines cannot continue to offer services in markets where they are unable to repatriate the revenues arising from their commercial activities in those markets. Governments need to work with industry to resolve this situation so airlines can continue to provide the connectivity that is vital to driving economic activity and job creation,” said Willie Walsh, IATA’s Director General.
The top five countries account for 68.0% of blocked funds. These comprise:
- Nigeria ($812.2 million)
- Bangladesh ($214.1 million)
- Algeria ($196.3 million)
- Pakistan ($188.2 million)
- Lebanon ($141.2 million)
IATA urged governments to abide by international agreements and treaty obligations to enable airlines to repatriate these funds arising from the sale of tickets, cargo space, and other activities.
For more information, please contact:
Corporate Communications
Tel: +41 22 770 2967
Email: corpcomms@iata.org
Notes for Editors:
- IATA (International Air Transport Association) represents some 320 airlines comprising 83% of global air traffic.
- You can follow us at twitter.com/iata for announcements, policy positions, and other useful industry information.
