The International Air Transport Association (IATA) has reported that as of the end of October 2024, $1.7 billion in airline funds remain blocked from repatriation by governments. This marks a slight improvement from the $1.8 billion reported at the end of April.
“Over the past six months, we have seen notable progress in reducing blocked funds in Pakistan, Bangladesh, Algeria, and Ethiopia. However, the situation has worsened in the XAF/XOF currency zones and Mozambique, with Bolivia also emerging as a new concern. Airlines are finding it increasingly difficult and unsustainable to repatriate sales revenues in these areas. This persistent issue is unacceptable. Governments must eliminate all barriers preventing airlines from repatriating their revenues in compliance with international agreements and treaty obligations,” stated Willie Walsh, IATA’s Director General.
“No country wants to lose the aviation connectivity that fosters economic growth. However, if airlines cannot access their earnings, they cannot sustain operations. A collapse in connectivity would harm economies. It is therefore in everyone’s interest, including governments, to ensure the smooth repatriation of airline funds,” Walsh emphasized.
Currently, nine countries account for 83% of the blocked funds, totaling $1.43 billion.
