IATA has sent its fourth letter to Venezuelan President Nicolas Maduro to allow airlines to repatriate funds, now estimated to be $4.1 billion, at the original exchange rate. To date, Venezuela has allowed the repatriation of $425 million to airlines, but the country also is offering to allow airlines—and other companies—to repatriate funds at a much lower exchange rate than the 6.3 bolivars to the dollar at which the revenues were accrued. IATA DG Tony Tyler recently called this ...

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