The International Air Transport Association (IATA) has called on the government of Ethiopia to act swiftly to clear the $95 million in airline funds blocked from repatriation to ensure the country\u2019s connectivity is not threatened. <\/p>\n\n\n\n
The ability to repatriate revenues is guaranteed in international agreements. All parties must abide by these agreements to keep the world connected by air.\u00a0<\/p>\n\n\n\n
\u201cThe low allocation of USD to the aviation industry by the Ethiopian Government and Central Bank means that $95 million in airline funds are blocked in the country. This sends all the wrong signals and puts at risk the economic and social benefits that its global hub supports Ethiopia\u2019s development with. Ethiopia must follow the global rules that it benefits from. It\u2019s time for the government to work with industry to resolve this situation quickly,\u201d said Willie Walsh, IATA\u2019s Director General.<\/p>\n\n\n\n
\u201cEthiopian Airlines is performing very well. Our current performance, in all parameters, indicates that our success will continue strong. We have recovered well from the impacts of the pandemic. By the end of this fiscal year, we expect to generate USD6.1 billion, this is a 20% growth compared to our last year\u2019s performance. We will be transporting 13.7 million passengers which is also a 55% increase from same period last year. <\/p>\n\n\n\n
While our operations and milestones continue to be persistent, we still have challenges regarding expatriating our accumulated funds in various countries. As of today, we have more than USD180 million stranded in several countries. Transferring funds remains a critical challenge for airlines,\u201d said Ethiopian Airlines Group CEO, Mr. Mesfin Tasew.\u00a0<\/p>\n\n\n\n
“Ethiopia\u2019s aviation industry is set to triple by 2040, with an average 6% growth in passenger traffic over the next 17 years. The Ethiopian government is uniquely positioned to stimulate SAF production, a move that would not only support the forecast surge in air travel but also trigger substantial job creation and boost the local economy. Ethiopia has the opportunity to take the lead, and in doing so, construct an aviation future that is as sustainable as it is successful,” said Walsh.\u00a0<\/p>\n\n\n\n
Editor:msserwanga@gmail.com<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" The International Air Transport Association (IATA) has called on the government of Ethiopia to act swiftly to clear the $95<\/p>\n","protected":false},"author":1,"featured_media":9305,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[180],"tags":[],"class_list":["post-9304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-aviation"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/06\/download-1.jpg","jetpack-related-posts":[{"id":12086,"url":"https:\/\/prowebinhost.com\/anzu\/african-airlines-get-some-relief-as-blocked-funds-drop-to-1-8-billion-with-major-clearance-in-nigeria-but-challenges-persist\/","url_meta":{"origin":9304,"position":0},"title":"African Airlines Get Some Relief As Blocked Funds Drop To $1.8 billion with Major Clearance in Nigeria But Challenges Persist","author":"MOSES SSERWANGA","date":"June 3, 2024","format":false,"excerpt":"The issue of blocked funds in billions of US dollars has been on the table for sometime now but there is relief for African airlines as the International Air Transport Association (IATA) has reported a 28% decrease in the amount of airline funds blocked from repatriation by governments. 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The industry\u2019s blocked funds have increased by 47% to $2.27 billion in April 2023 from $1.55 billion in April 2022.\u00a0\u201cAirlines cannot continue to offer services\u2026","rel":"","context":"In "Aviation"","block_context":{"text":"Aviation","link":"https:\/\/prowebinhost.com\/anzu\/category\/aviation\/"},"img":{"alt_text":"","src":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/06\/R.jpg","width":350,"height":200,"srcset":"https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/06\/R.jpg 1x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/06\/R.jpg 1.5x, https:\/\/prowebinhost.com\/anzu\/wp-content\/uploads\/2023\/06\/R.jpg 2x"},"classes":[]},{"id":7740,"url":"https:\/\/prowebinhost.com\/anzu\/iata-engaging-nigeria-to-release-airlines-blocked-funds-kamil-al-awadhi\/","url_meta":{"origin":9304,"position":3},"title":"IATA ENGAGING NIGERIA TO RELEASE AIRLINES BLOCKED FUNDS-KAMIL AL -AWADHI","author":"UgandaUpdate","date":"December 20, 2022","format":false,"excerpt":"Geneva\u00a0-\u00a0The International Air Transport Association (IATA) warned that the amount of airline funds for repatriation being blocked by governments has risen by more than 25% ($394 million) in the last six months. 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