The stock price of Copa Holdings has fallen and at the same time the airline has stopped accepting Argentina’s currency for ticket sales.

Restrictions in Argentina for converting local currency to dollars and for sending funds abroad, have now forced American Airlines and Air Canada to take the same measure implemented by Copa.

An article on Elsalvador.com reports that “… This situation is similar to what occurred in Venezuela and which led the airline industry to reduce its presence in that nation. In the case of Venezuela, Copa Airlines had some 427 million dollars retained at the end of the third quarter. ”

The upcoming end to the administration of President Fernandez will mean dramatic changes in monetary policy in Argentina, not excluding the adjustment to exchange rate to meet market realities.

“… We will have to wait for the fourth quarter to see the real impact of Copa Airline’s decision not to accept Argentine pesos. The devaluation of Latin American currencies caused Copa Holdings profits to fall by 90% in the third quarter, earning $6.2 million between July and September. ”

Source: Prensa.com