The International Air Transport Association (IATA) has called on governments to release $1.3 billion in airline revenues currently blocked from repatriation as of the end of April.
$1.3 billion in airline funds is blocked, says IATA pic.twitter.com/rhsQQdtCH3
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In a statement issued on Sunday, IATA Director-General, Mr Willie Walsh, emphasised the importance of timely repatriation of airline funds, describing it as essential for the sustainability of airline operations.
Walsh noted that although the figure represents an improvement from the $1.7 billion reported in October 2024, the amount remains substantial. He appealed to governments to eliminate all barriers hindering the repatriation of proceeds from ticket sales and other services, in line with international agreements and treaty obligations.
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“Timely access to revenues is critical for airlines to meet their dollar-denominated obligations and maintain operational viability,” Walsh stated. “Delays and denials breach bilateral air service agreements and expose carriers to increased currency risks. Given the airline industry’s typically slim profit margins, consistent access to revenue is indispensable.”
He stressed that air connectivity is a pillar of economic growth and job creation, warning that continued restrictions on fund repatriation could severely affect global airline connectivity.
IATA further revealed that 10 countries account for 80 per cent of the total blocked funds.
