$1.3 billion in airline funds blocked by governments, IATA reports
IATA reports $1.3 billion in blocked airline funds globally, urging governments to remove barriers hindering timely revenue repatriation.
NEW DELHI – The International Air Transport Association (IATA) reported that $1.3 billion in airline funds are blocked from repatriation by governments as of end April 2025. This is a significant amount, although it is an improvement of 25% compared with the $1.7 billion reported for October 2024.
IATA urged governments to remove all barriers preventing airlines from the timely repatriation of their revenues from ticket sales and other activities in accordance with international agreements and treaty obligations.
'Ensuring the timely repatriation of revenues is vital for airlines to cover dollar-denominated expenses and maintain their operations. Delays and denials violate bilateral agreements and increase exchange rate risks. Reliable access to revenues is critical for any business – particularly airlines which operate on very thin margins. Economies and jobs rely on international connectivity. Governments must realize that it is a challenge for airlines to maintain connectivity when revenue repatriation is denied or delayed,' said Willie Walsh, IATA's Director General.
10 Countries are Responsible for 80% of Blocked Funds
10 countries account for 80% of the total blocked funds, amounting to $1.03 billion.
Country Amount USD Million
Mozambique
205
XAF Zone*
191
Algeria
178
Lebanon
142
Bangladesh
92
Angola
84
Pakistan
83
Eritrea
76
Zimbabwe
68
Ethiopia
44
*XAF Zone (Cameroon, Central African Republic, Chad, Congo, Equatorial Guinea, and Gabon)
Country Highlights
Pakistan and Bangladesh, previously in the top five blocked funds countries, have made notable progress in clearing their backlog to $83 million and $92 million, respectively (from $311 million and $196 million in October 2024, respectively).
Mozambique has climbed up to the top of blocked funds countries, withholding $205 million from airlines, compared with $127 million in October 2024. The Africa and Middle East (AME) region accounts for 85% of total blocked funds, at $1.1 billion as of end April 2025.
The most significant improvement was noted in Bolivia, fully clearing its backlog that stood at $42 million at end October 2024.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Travel Daily News
12-06-2025
- Travel Daily News
Tragedy in India: Air India plane crashes, shaking the travel world
An Air India plane crashed in India, killing many, including British and Portuguese nationals, causing global concern. India – A profound sorrow and concern has swept across the global aviation and tourism sectors today, following the tragic news of an Air India plane crash just minutes after its takeoff from Ahmedabad, India. The flight, carrying 242 passengers and crew bound for London's Gatwick Airport, went down in a residential area, with initial reports indicating 'many killed.' The incident involves flight AI171, a Boeing 787-8 Dreamliner, an aircraft considered among the most modern and technologically advanced in airline fleets. The aircraft took off around 13:39 local time and, according to air traffic control, sent a 'Mayday' distress call before all communication was lost. Videos and images circulating show thick black smoke and flames rising from the crash site, which is reportedly a doctors' hostel. International Dimension and Implications The tragedy takes on an international dimension due to the nationalities of those on board. Air India confirmed that among the 242 individuals (217 adults and 11 children) were 169 Indian nationals, 53 Britons, 7 Portuguese, and one Canadian. The presence of such a large number of European citizens, particularly from Britain, which is a significant tourism market for Greece as well, adds an extra layer to the tragedy. The international community is watching developments with bated breath, with Indian Prime Minister Narendra Modi stating he is 'heartbroken' and ordering all possible assistance to the rescue efforts. Similarly, the British Foreign Office is working closely with Indian authorities to ascertain the facts and provide support to those affected. Ahmedabad Airport has suspended all flight operations. Psychological Impact on the Travel Sector For the travel and tourism industry, especially in Greece, which is one of the world's leading tourist destinations, such events, though rare, inevitably have a psychological impact. The safety of air travel is a fundamental parameter for traveler confidence. Although statistics show that air travel is among the safest forms of transportation, high-profile accidents can cause temporary anxiety and influence travelers' decisions. Boeing, the manufacturer of the Dreamliner, announced it is gathering information about the incident, and its shares fell. The Boeing 787-8 Dreamliner, while having a 'spotless safety record' before today's tragedy, has faced various controversies in the past regarding manufacturing quality and safety issues. Air India, now owned by the Indian conglomerate Tata Group, has activated an emergency center and support hotline for the families of the passengers. Our thoughts are with the families of the victims and all those affected by this unspeakable tragedy. The travel world is closely monitoring developments, awaiting the results of the investigation into the cause of the accident and the broader impact it may have on public confidence in air travel.
Travel Daily News
04-06-2025
- Travel Daily News
SiteMinder announces "Risk, Resilience & Revenue" series
SiteMinder launches June webinar series to help hoteliers tackle 2025 booking declines with data-driven strategies amid global uncertainty. DALLS, TEXAS – SiteMinder has announced the launch of a new global webinar series: 'Risk, Resilience & Revenue – Navigating Hotel Demand in 2025', running throughout June. The series will bring together industry leaders to provide hoteliers with practical, data-driven strategies for maximizing revenue at a time of geopolitical and economic uncertainty. The announcement comes as SiteMinder's data reveals hotels globally are experiencing a 1.31% decline in bookings for summer 2025 (June – August) compared to last year. US properties face greater challenges, with summer volumes down 6.72%, driven in part by a 46.04% year-on-year fall in Canadian bookings and a 7.37% reduction from Mexican guests. Average daily rates (ADR) for US properties have shifted to $317.29 for the June – August period, compared to $330.03 last year – a 3.86% adjustment. Regional performance varies: Texas hotels report a 6.04% ADR gain, while Florida properties show an 8.76% reduction for the same timeframe. Domestic travelers remain the foundation of US hotel revenue, representing over 70% of all arrivals throughout the first four months of 2025, according to SiteMinder. Trent Innes, SiteMinder's Chief Growth Officer, says: 'While market volatility certainly brings challenges, it also opens up real opportunities for the hotels ready to adapt. That's exactly why we created 'Risk, Resilience & Revenue' – to bring together industry leaders from around the world to share the strategies shaping success in their markets right now. By combining diverse perspectives with comprehensive market insights, we're helping hotels identify and act on emerging trends, tap into new source markets, and navigate today's complexities. It's about equipping hoteliers with the clarity and confidence to turn disruption into momentum.' According to SiteMinder, the data also reveals resilience within the US market. Despite volume pressures, the booking window for summer stays made during April remains stable at 80.44 days, compared to 81.78 days last year, while the average length of stay has increased slightly to 2.29 days for summer 2025, up from 2.26 days in 2024. The US session of SiteMinder's international webinar series will take place on the 3rd June at 12pm EDT, with the participation of Michelle Viajeador, Market Development Manager at SiteMinder, and Josh Graham, Head of Market Development North America at Cloudbeds.
Travel Daily News
03-06-2025
- Travel Daily News
IATA 's 82nd AGM to be hosted in Rio, June 2026
IATA announces its 82nd Annual General Meeting will be hosted by LATAM in Rio de Janeiro, Brazil, in June 2026. NEW DELHI – The International Air Transport Association (IATA) announced that the 82nd IATA Annual General Meeting (AGM) will be held in Rio de Janeiro, Brazil in June 2026, hosted by LATAM Airlines Group. 'We are excited to accept LATAM's offer to host IATA's 82nd AGM in Rio de Janeiro. The last time the IATA AGM was in South America was in 1999, also in Rio. It will be a great opportunity to take stock of changes over two decades of development that have seen strengthening air connectivity successfully support major world events like the FIFA World Cup and the Olympics. By meeting in the largest aviation market in South America, the AGM will highlight the great potential for aviation to be an even more powerful strategic force driving social and economic prosperity,' said Willie Walsh, IATA's Director General. 'LATAM is proud to host the IATA AGM in Brazil in 2026, the main market for our airline group connecting South America to the world. In addition to facilitating a successful gathering of our industry leaders, we look forward to showcasing the contributions and enormous potential for aviation in Brazil and throughout South America. We are confident that Rio de Janeiro, one of the most spectacular cities in the world with its unparalleled hospitality and beauty, will ensure a warm welcome and a memorable experience for all attendees,' said Roberto Alvo, CEO of LATAM Airlines Group. LATAM Airlines Group connects people and cultures across South America and beyond with 153 destinations across 27 countries. In 2024, LATAM transported a record 82 million passengers and achieved significant milestones in fleet modernization and environmental sustainability. Hosting the IATA AGM in Rio de Janeiro reflects Brazil's rich history in aviation, dating back to the pioneering efforts of Alberto Santos-Dumont, who is celebrated as one of the fathers of aviation. His historic flight in 1906 marked a significant milestone in the development of powered flight, not only in Latin America but also the entire globe. Previous IATA AGMs held in Brazil were in Petropolis (1947) and Rio de Janeiro (1999).
