Tag: Venezuela currency controls

• Tuesday, May 31st 2016 - 06:40 UTC

  Latam is suspending flights to Venezuela because of the government's mounting debts

  

  The largest airline in Latin America, Latam, (Lan Chile and Braizl's TAM) announced it is suspending its flights to Venezuela because of the worsening economic situation. The suspension came a day after Germany's Lufthansa said it would suspend its services to the country.

• Saturday, January 11th 2014 - 06:30 UTC

  Airlines operating in Venezuela have 3.3bn dollars trapped by currency controls

  

  International airlines operating in Venezuela have 3.3 billion trapped because of currency controls, the International Air Transport Association, IATA, revealed. Airlines have to wait around 12 months for the government to convert their Bolivar earnings into dollars, with the time lag growing, according to the Venezuela Airline Association.