IATA Seeks US Antitrust Immunity On Venezuela Funds

IATA has filed a request for antitrust immunity with the US Department of Transportation to allow airlines to discuss options to maintain connectivity to Venezuela.

The request comes as a result of the Venezuelan government’s continued refusal to release airline funds. IATA says the total amount of blocked funds is now USD$3.8 billion.

"The economic situation in Venezuela is grave. And it will be made worse if airlines cannot maintain connectivity as the blocked-funds issue drags on,” IATA Director General, Alexandre de Juniac, said.

“We are now asking the US government to approve anti-trust immunity for discussions among airlines focused on maintaining connectivity.”

Since 2003, Venezuela has operated currency controls that prevent foreign airlines from repatriating funds without government approval.

“We urge the US government to quickly grant airlines immunity to discuss joint action to keep Venezuela connected," de Juniac added.