IATA has reported that $1.7 billion in airline funds are blocked from repatriation by governments, as of the end of October 2024.
This is a small improvement compared to the $1.8 billion in blocked funds reported at the end of April.
“Over the last six months, we have seen significant reductions in blocked funds in Pakistan, Bangladesh, Algeria and Ethiopia,” said Willie Walsh, IATA’s director general. “Bolivia has also emerged as a problem, where repatriating sales revenues is becoming increasingly difficult and unsustainable for airlines.”
Pakistan topped the list of blocked funds countries at $311 million, IATA noted that this is due to the system of audit in the country and tax exemption certificates which is causing long processing delays.
Walsh also called for governments to remove “all barriers for airlines” to repatriate their revenues from ticket sales and other activities, in accordance with international agreements and treaty obligations.
Nine countries account for 83% of the airline industry’s blocked funds, amounting to $1.43 billion.