IATA urges Venezuela to release $3.9 billion in airline funds

The International Air Transport Association (IATA) has called on the Venezuelan government urgently to honor its commitment made in March to permit the repatriation of $3.9 billion of airline funds at fair exchange rates. The funds are from sales of airline tickets in Venezuela and are being held in contravention of international treaties. IATA cautioned that that failure to release the airline monies puts at risk a major contributor to the well-being of the Venezuelan economy—sustainable air connectivity. “The situation is unacceptable. In March the Venezuelan Government promised airlines that it would release their money for repatriation at fair exchange