MORE: Airlines to Quote Tickets in Dollars in Venezuela

Venezuela publishes general details, regulations for submission of airline ticket prices to govt, according to official gazette distributed today.

  • Prices should be expressed in US dollars
  • Airlines must publish prices in “visible” place on web, in ticket offices
  • Airlines have 5 days to submit proposed prices to govt, which approves/rejects proposals
  • Govt to list approved prices at www.inac.gob.ve
  • “Even when airfares are expressed in dollars, they will be paid in bolivars at the Sicad II rate as dictated by the currency law,” Asdrubal Oliveros, director of Caracas-based Ecoanalitica consultancy, says in phone interview
  • “The government sets airfares in dollars to make an international comparison and prevent distortions”: Oliveros

(Earlier version corrected headline to say tickets will be quoted in dollars, not sold)

Before it's here, it's on the Bloomberg Terminal.
LEARN MORE