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Airlines Threaten to Stop Flying to Venezuela

By: PanAm Post Staff - Mar 14, 2014, 8:34 am

EspañolThe International Air Transport Association (IATA) announced on Wednesday that some airlines are looking to suspend their flights to Venezuela. The airline chiefs made the decision after the Venezuelan government froze the payment of US$3.7 billion in cash that it still owes to foreign airlines.

Tony Tyler, director general of IATA, wrote to Venezuelan President Nicolás Maduro denouncing the delay in negotiations, but hasn’t received any response yet. Tyler said in a press conference that “It is unacceptable that Venezuela doesn’t comply with the rules to which it is bound by a treaty.” The director added, “I know that some airlines are considering halting their flights [to Venezuela]. We hope that this is not the case, but each airline is making its own decisions.”

The association represents about 200 airlines, and manages the industry-wide system for airline ticket sales.

Venezuela doesn’t seem to be the only country whose economic weakness is affecting the airlines. The industry’s profits have also been affected by neighboring countries like Argentina and Brazil, and Latin-American airlines estimate that profits will reach $1 billion this year, a third less than projected earlier.

Source: El Universal.