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Airline industry faces challenges with $1.7 billion funds blocked globally

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Airline industry faces challenges with $1.7 billion funds blocked globally
Research
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Kamil Al-Awadi Regional Vice President, Africa and Middle East | International Air Transport Association - IATA

A significant amount of airline funds, totaling $1.7 billion, remains blocked by various governments worldwide. According to recent data, nine countries are responsible for 83% of these funds, which amounts to $1.43 billion.

Pakistan leads the list with $311 million in blocked funds, though this is an improvement from $411 million in April 2024. The delays are attributed to issues with audit and tax exemption certificates. Bangladesh follows with $196 million in blocked funds, down from $320 million earlier this year. The Central Bank of Bangladesh is urged to prioritize airlines' access to foreign exchange.

African countries account for approximately $1 billion of the blocked funds, representing about 59% of the global total. Notable reductions have been observed in Algeria and Ethiopia over the past six months. However, increases were noted in the XAF Zone, Mozambique, and XOF Zone.

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Bolivia has recently joined the list due to a worsening situation regarding foreign exchange availability, particularly US dollars, resulting in an estimated $42 million being blocked.

"No country wants to lose aviation connectivity, which drives economic prosperity," said Walsh. "But if airlines cannot repatriate their revenues, they cannot be expected to provide a service. Economies will suffer if connectivity collapses. So it is in everyone’s interest, including governments, to ensure that airlines can repatriate their funds smoothly."

The situation highlights ongoing challenges faced by airlines in accessing their revenues across different regions.

Organizations Included in this History
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