Sunday, June 4, 2023

State Bank blocks $225 million airline funds after google payments

In a news statement they issued on Wednesday, the International Air Transport Association (IATA), the trade association for airlines worldwide, listed Pakistan as one of the top locations where airline funds have been prohibited from being repatriated.

The statement added that Pakistan has blocked $225 million in airline funds for repatriation. Nigeria has blocked $551 million, while Venezuela has to settle $3.8 billion in airline funds that have been blocked from repatriation since 2016, it said.

The IATA represents some 300 airlines, comprising 83% of global air traffic. As per IATA, Pakistan is among the top five nations in the world that have blocked airline funds (excluding Venezuela).  

Related Articles

Latest Articles