Venezuela Not Paying Airlines $3.9 Billion Promised: IATA
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Venezuela’s government isn’t honoring its pledge to provide as much as $3.9 billion to airlines with bolivars trapped in the country, said the International Air Transport Association, known as IATA.
President Nicolas Maduro last month authorized the release of dollars owed to 24 airlines operating in the country, basing the total on the official exchange rate at the time of the ticket sales, Venezuelan Airlines Association President Humberto Figuera told reporters March 28.