Caribbean News Now!

About Us Contact Us


Jump to your country or territory of interest

Advertise with us

Reach our daily visitors from around the Caribbean and throughout the world. Click here for rates and placements.


Submit news and opinion for publication


Click here to receive our daily regional news headlines by email.


Click here to browse our extensive archives going back to 2004

Also, for the convenience of our readers and the online community generally, we have reproduced the complete Caribbean Net News archives from 2004 to 2010 here.

Climate Change Watch

The Caribbean is especially vulnerable to rising sea levels brought about by global warming. Read the latest news and information here...


Follow Caribbean News Now on Twitter
Connect with Caribbean News Now on Linkedin

News from the Caribbean:

Back To Today's News

Foreign airlines suspend local currency ticket sales in Venezuela
Published on January 27, 2014 Email To Friend    Print Version

By Caribbean News Now contributor

CARACAS, Venezuela -- On Friday three more international airlines joined the list of foreign carriers that have suspended local currency ticket sales in Venezuela, saying that the government owes them billions of dollars in unpaid fares.

US carriers American Airlines and United Airlines, along with Panama’s Copa Airlines, said they were halting ticket sales in Venezuela as a result of the government’s failure to pay arrears that as of last month totaled $2.6 billion, according to a statement issued on December 12 by the International Air Transport Association, an airline trade group.

Under Venezuela’s complicated foreign exchange rules, the government acts as intermediary in foreign currency sales of goods and services, including air fares.

Airlines that have already suspended operations include Air Canada, Tame (Ecuador) and TAP (Portugal).

As of Friday, no flights in or out of Venezuela had been cancelled by foreign carriers, but the airlines had halted ticket transactions in bolivars. Sales of tickets purchased with dollars are still reportedly being made.

Venezuela finds itself in a tightening shortage of foreign currency partly because of falling oil revenues. An increasing percentage of oil output now goes directly to China to repay cash advances that now exceed $42 billion. Free or discounted oil that Venezuela ships to Cuba and several other Caribbean nations under the PetroCaribe agreement generates less than market rate.

Last month, airlines in the Dutch Antilles were reported to be facing acute financial problems over the Venezuelan payments default.

Tiara Air Aruba was in an especially difficult position. Curacao based InselAir is still surviving, though its partner KLM was also waiting on $70 million from Caracas.
Reads: 3584

Click here to receive daily news headlines from Caribbean News Now!



No comments on this topic yet. Be the first one to submit a comment.


Send us your comments!  

Send us your comments on this article. All fields are required.

For your contribution to reach us, you must (a) provide a valid e-mail address and (b) click on the validation link that will be sent to the e-mail address you provide.  If the address is not valid or you don't click on the validation link, we will never see it!

Your Name:

Your Email:

(Validation required)

Enter Code

Please note that, if you are using an AT&T domain email address, e.g.,,, the verification email will likely not be delivered. This is outside of our control and the only remedy seems to be for readers to complain to AT&T

User comments posted on this website are the sole views and opinions of the comment author and are not representative of Caribbean News Now or its staff. Caribbean News Now accepts no liability and will not be held accountable for user comments.
Caribbean News Now reserves the right to remove, edit or censor any comments. Any content that is considered unsuitable, unlawful or offensive, includes personal details, advertises or promotes products, services or websites or repeats previous comments will not be approved.
Before posting, please refer to our Terms of Use and Privacy Policy.

The Caribbean Writer 2014

Other Headlines:

Regional Sports: