#  The International Air Transport Organization urges Bangladesh to release $323 million in airline funds.

> The International Air Transport Association (IATA) urges Pakistan and Bangladesh to promptly release airline revenues totaling over $720 million, in violation of international agreements. Delays in repatriating funds hi…

Published: 2024-06-25 · Desk: News · Source: The Business Standard

The International Air Transport Association (IATA) urges Pakistan and Bangladesh to promptly release airline revenues totaling over $720 million, in violation of international agreements. Delays in repatriating funds hinder airlines from covering expenses, jeopardizing operations and exchange rate risks. Pakistan's repatriation process requires cumbersome documentation, while Bangladesh faces a shortage of US dollars, affecting remittance. IATA calls for simplified procedures and prioritized access to foreign exchange. The aviation sector's vitality is emphasized, supporting economic growth, job creation, and investment. Bangladesh's pre-COVID aviation sector sustained 125,000 jobs and $728 million in economic activity, with passenger numbers anticipated to double by 2040.

Original reporting: https://www.tbsnews.net/economy/aviation/iata-calls-bangladesh-unblock-323m-airline-funds-835761
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