Blocked Airline Funds: 8 Nations Hold $1.6Bn, Africa Tops List

Airline blocked funds down 28%, African nations still account for $1.6 Billion

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The International Air Transport Association (IATA) has reported progress on airlines repatriating revenue trapped by government restrictions.

Blocked airline funds have decreased by $708 million since December 2023, but $1.8 billion remains inaccessible as of April 2024-end.

The remaining $1.8 billion, however, is significant and must be urgently addressed,” stated Willie Walsh, IATA’s Director General. “The efficient repatriation of airline revenues is guaranteed in bilateral agreements. Even more importantly, it is a pre-requisite for airlines—who operate on thin margins—to be able to provide economically critical connectivity. No business can operate long-term without access to rightfully earned revenues


Progress Highlights

  • Nigeria has cleared the most blocked funds ($850 million), bringing the total of repatriated blocked funds to 98%.
  • Egypt also made progress, but currency devaluation impacted airlines.

Remaining Challenges

Eight countries still hold 87% of blocked funds ($1.6billion).

The top nations, in terms of US Millions: Pakistan ($411), Bangladesh ($320), Algeria ($286), XAF zone ($151), Ethiopia ($149), Lebanon ($129), Eritrea ($75), and Zimbabwe ($69).

IATA has urged governments to prioritise clearing these funds to ensure smooth airline operations and economic connectivity.