Airlines lose billions due to Venezuela's strife
Posted On: Oct. 29, 2019 5:22 AM CSTPeter Cerda, the International Air Transport Association's regional vice president for the Americas, said airlines worldwide have lost billions of dollars due to their inability to convert holdings in Venezuela's currency into other currencies, Flight Global reports. Venezuela's air travel sector shriveled in recent years as carriers cancelled flights amid civil unrest, political instability and economic decline, he said.