The International Air Transport Association (IATA) has issued a report on the suspension of funds in various countries of the world, including Pakistan.
Airline funds of $188 million are stuck in Pakistan, according to IATA, $812 million of airlines are stuck in Nigeria, $214 million in Bangladesh, $196 million in Algeria, $141 million in Lebanon.
According to IATA, the difficulties for airlines have increased due to the lack of funds.
IATA said that holding funds for a long period of time is a threat to the airlines’ business.
According to the International Air Transport Association, the airlines industry’s worldwide blocked funds increased by 47% to $2.27 billion in April 2023.
According to IATA, the blocked funds in April 2022 were $1.55 billion. It will be difficult for airlines to continue flight operations in countries where funds are stuck, including Pakistan.
IATA said that all governments need to work together with industry to address this situation. With timely funding, airlines will be able to continue their services.
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