IATA Reports $1.2 Billion in Airline Funds Blocked in Africa and Middle East
The International Air Transport Association (IATA) revealed that $1.2 billion in airline funds are trapped in Africa, the Middle East, and other regions due to currency repatriation restrictions. IATA called on governments to allow airlines access to revenue from ticket and cargo sales in US dollars to ensure operational sustainability.
The Director General of IATA, Willi Walsh, emphasized the importance of efficient fund repatriation to support airlines and foster economic growth.
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