The International Air Transport Association (IATA) has called on governments to begin repatriating blocked airline funds following a 25% increase since June. The combined total owed currently sits at almost $2 billion, divided across 27 countries.
$1.2 billion trapped in five nations
In a statement released on Wednesday, the IATA warned about the skyrocketing amount of trapped funds as governments attempt to pad the impact of currency crises. Across the past six months, the figure has increased by almost $400 million to $2 billion, with over 60% of the blocked amount attributed to just five countries: Nigeria, Pakistan, Bangladesh, Lebanon, and Algeria.