The industry’s blocked funds have increased by 27% in the last 6 months, reaching the amount of 1.851 billion USD
- The total amount blocked is higher mainly driven by two factors: increase of sales across most markets and deterioration in Nigeria, Pakistan, Egypt, Russia and Ukraine and two new countries.
- Blocked amounts in Africa & Middle East have increased by 280 million USD (+30%) since March 2022
- Three countries IATA was monitoring and flagged in the Watch List Countries in 2021 have now become Blocked Funds countries – Egypt, Ukraine, and Russia
- Blocked amounts in Asia Pacific currently stand at 448 million USD with Pakistan holding 50% of the balance.
- The top country with blocked funds is Nigeria where airlines are currently holding a balance of 567million USD. Advocacy updates provided below.
- While IATA continues to monitor Bangladesh very closely and engaging with the Bank of Bangladesh, it is no longer considered a blocked fund country. The outstanding amount airline have been increasing and any persisting issues have been mainly administrative. If any airline continues to face issues, please reach out to our IATA Area Manager and they will support you. IATA continues its advocacy and lobby efforts across all affected markets while engaging with authorities and airlines.
Watch List Countries Heatmap (click image to open)