It has become very hard for foreign airlines to keep working in Venezuela. Thanks to currency controls, the government (through CADIVI) owes them around two and half billion dollars.
After a proposed trueque deal of bonds and free fuel didn’t quite fly, some airlines are starting to consider the idea of just packing their bags and leaving Venezuela for good.
Meanwhile, Venezuelan travelers are suffering the consequences of this situation, as this article from Bloomberg’s
“Gladys Varela is stuck in Venezuela this Christmas. After scanning travel agencies in Caracas for three months for a plane ticket to visit her daughter in Mexico, she found airlines want nothing to do with bolivars…
“I went to 10 air companies and agents all over town and everywhere I received the same answer that no tickets were available,” said Varela, who works at a beauty salon in Caracas. “Looks like I won’t see my daughter this year.”
Our advice to airlines: cut your losses. Sad as it is to say, you are likely never going to get your money back. The time to bail … was yesterday.