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Billionaire Mottas Try Getting Trapped Money Out of Venezuela

Stanley Motta, chairman of Copa Holdings SA, asked Venezuela to free up $470 million of the airline’s revenue that’s trapped in the country by turning it into bonds that can be paid over time.

Currency controls have prevented Copa from converting cash from ticket sales in Venezuela into dollars for the past two years, despite promises from the government, Motta said in an interview at the Panama City headquarters of his billionaire family’s Inversiones Bahia Ltd. holding company.