GENEVA (Conspiracy Talk News) – The International Air Transport Association (IATA) will close it’s office in Caracas next January in the face of political instability and the deterioration of the social and economic situation, the organization announced Tuesday.
The regional Vice President for IATA, Peter Cerdá, told the CTN News that the closure will occur on January 31st due to the instability in the Andean country, “which has an impact on the business community.”
Due to this situation, only 6 IATA airlines continue to operate in Venezuela, compared to 24 in the country back-in 2014.
According to Mr. Cerdá, international traffic has fallen by 65% since it’s peak in 2013 and more than 69% of the flights of member airlines have been canceled.
“To make matters even worse, the Government of President Nicolás Maduro continues to block repatriation of 3,800 million dollars of industry funds”, said Cerdá.
The company does not have high hopes for improvement in Venezuela, will operate starting in February from Panama to support the airlines that remain in Venezuela, the broader airline industry and Venezuelan travelers.
Meanwhile, Cuban operations that were previously managed from Caracas will be transferred to the home office in Miami (USA), responsible for relations with the Caribbean.