Venezuela must pay $3.7 billion to airlines: industry group

[Zorro]

Venezuela must take steps to resolve an impasse that has held up $3.7 billion dollars in payments to international airlines, the head of a major airline industry group said Monday.

"This is unacceptable," said Tony Tyler, director general of the International Air Transport Association, adding that the money was generated from ticket sales and Venezuela is violating international treaties by withholding it.

In Venezuela, airlines are required to sell tickets in bolivars (VEF) under an arrangement in which the government later converts the local currency to dollars.

However, the exchange rate varies wildly, and "airlines are forced to sell tickets using an exchange rate of 12 VEF to the US dollar (USD) and make payments such as those for airport use at a floating rate that currently stands at 199 VEF per USD," the IATA said in a statement.

http://news.yahoo.com/venezuela-must-pay-3-7-billion-airlines-industry-190618251.html

Damn capitalist airline swines!

[COLGATE4]

1. The nerve! Imagine demanding to get paid for

the airline tickets they sold!! Capitalistic swine, indeed !!!!

[FrodosPet]

2. Perhaps Venezuela can expropriate every plane that lands

Then they can have a HUGE national airline which will make the Venezuelan government lots of money.

[COLGATE4]

3. Jesus - don;t even say such a thing. Maduro is so desperate

(and dense) that he just might try it!

[Bacchus4.0]

4. they've done that for other industries like oil and hotels

then they realize the upkeep and maintenance costs and things go to hell.