The situation in Venezuela is getting worse by the day. This is part of the emerging markets problem areas that some see as one of the “black swans” that are circling right now. Let’s hope they work things out soon.
United Airlines, American Airlines and Air Canada have also suspended the sale of tickets for international flights to Venezuela.
The international airlines American Airlines, United Airlines and Copa Airlines have decided to temporarily cancel the sale of air tickets in Venezuela. The measure was taken due to the uncertainty generated over a multi million-dollar debt the government holds with some airlines and the changes that have been made relating to foreign exchange.
“Air Canada announced on that it is on the verge of a similar measure and the Ecuadorian company Tame has temporarily suspended its flights to Caracas due to a multi million-dollar debt held by the government with the company from the sale of tickets.”
“Travel agents have also temporarily suspended ticket sales for all international destinations at the request of the airlines.”
“The aeronautical authorities met with the airlines to discuss the situation facing the sector and the debt of more than $3.3 billion held by the government with the airlines.”
Source: Prensa.com
What shame.
Venezuela is another potentially great or once great country being destroyed by populist left-wing governments.
Add Argentina, France, Spain, Portugal, and South Africa to that miserable list.
Eventually everyone in those countries will be equally at the bottom and equally miserable. The ideal outcome for left-wing governments.