The International Air Transport Association (IATA) expressed regret today that certain countries, including Angola, Mozambique, Guinea-Bissau, and Equatorial Guinea, are preventing the repatriation of airline revenues, amounting to a total of \u20ac1.6 billion globally.<\/p>\n
According to international regulations applicable to the civil aviation sector, government authorization is required for an airline that has sold tickets in a country to convert the funds into foreign currency and recover the amounts.<\/p>\n
However, according to a statement issued in late October by the International Air Transport Association (IATA), which has 340 members representing more than 80% of global air traffic, \u201cabout one billion dollars belonging to airlines are held in African countries.\u201d<\/p>\n
IATA reports that $235 million (\u20ac222 million) are blocked in the Central African CFA franc zone (Cameroon, Congo, Gabon, Equatorial Guinea, Central African Republic, and Chad), and $73 million in the West African CFA franc zone (Benin, Burkina Faso, Ivory Coast, Guinea-Bissau, Mali, Niger, Senegal, and Togo).<\/p>\n
The amounts “are increasing,” according to IATA.<\/p>\n
These funds total $193 million in Algeria, $127 million (\u20ac120 million) in Mozambique, $80 million (\u20ac75.67 million) in Angola, and $75 million in Eritrea.<\/p>\n
Pakistan remains the country with the largest sums retained, at $311 million, although this amount has decreased by $100 million since April.<\/p>\n
The total amount has slightly decreased since the end of April, when it stood at $1.8 billion (\u20ac1.7 billion), according to the Association’s data.<\/p>\n
While acknowledging \u201csignificant\u201d improvements in Pakistan, as well as in Bangladesh, Algeria, and Ethiopia, IATA Director General Willie Walsh criticized an \u201cunacceptable cat-and-mouse game\u201d by the countries in question.<\/p>\n
\u201cGovernments must remove all barriers to enable airlines to repatriate their ticket revenues (…) in accordance with international agreements and treaties,\u201d he stated, as quoted in a press release.<\/p>\n
Otherwise, \u201cairlines cannot be expected to continue their operations\u201d in the affected countries, and he warned: \u201ctheir economies will suffer if they lose air connectivity\u201d with the rest of the world.<\/p>\n","protected":false},"excerpt":{"rendered":"
The International Air Transport Association (IATA) expressed regret today that certain countries, including Angola, Mozambique, Guinea-Bissau, and Equatorial Guinea, are preventing the repatriation of airline revenues, amounting to a total of \u20ac1.6 billion globally. According to international regulations applicable to […]<\/p>\n","protected":false},"author":3,"featured_media":8669,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,78],"tags":[],"class_list":["post-8671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-featured"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/posts\/8671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/comments?post=8671"}],"version-history":[{"count":1,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/posts\/8671\/revisions"}],"predecessor-version":[{"id":8672,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/posts\/8671\/revisions\/8672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/media\/8669"}],"wp:attachment":[{"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/media?parent=8671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/categories?post=8671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.negociosdeangola.com\/en\/wp-json\/wp\/v2\/tags?post=8671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}