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Transportation in Venezuela

  • Airlines operating in Venezuela have 3.3bn dollars trapped by currency controls

    VENEZUELA, 2014/01/11 Valued at the official exchange rate of 6.3 Bolivar per dollar, the all of cash airlines have in Venezuela has risen 27% from 2.6 billion in November, said Jason Sinclair an IATA spokesman. Companies inclunding Brazil’s Gol Linhas Aereas Inteligentes SA and Panama’s Copa Holdings SA are part those affected by the restrictions. “We are still operating, but it’s hard to get money out,” Edmar Lopes Neto, Gol’s chief financial officer, said from Miami and added “we’re all in the same boat.”