Actor Claude Rains in Casablanca, playing Capt. Louis Renault,
Venezuela has been withholding funds from all airlines that service the country. How do they do it? The money paid by passengers has to go into a government account. Then that account never dispenses the funds to the airlines.
All told, they have siphoned over 4 billion dollars in this way. And the airlines are now waking up and demanding their money.
Officials in Caracastan have offered to pay a very small fraction of the money owed, and to do so in installments, over several years.
In the meantime, they are demanding that the airlines keep flying in and out of their country under the same arrangement, with the money from the passengers being funneled through a government account that never pays out.
The International Air Transport Association is shocked, shocked by this Castronoid behavior!
…. And in Caracastan, the negotiators are shocked, shocked that the IATA is crying foul!
I wonder if charter flight carrier GECA Airlines, owned by German Ferrer, son of high-ranking chavistas German Dario Ferrer and Luisa Ortega Diaz had any trouble collecting. Read more about the Ferrers in Chavistas en el Imperio.
how can the Government pay its debts, when all of its operating (Not liquid, operating!) international reserves are not enough to pay the debt with the airlines?