Venezuela blames World Cup for airline cutbacks

Published May 22, 2014 11:54pm ET



CARACAS, Venezuela (AP) — Blame it on the World Cup. That’s what Venezuelan President Nicolas Maduro is doing to explain why airlines are slashing flights to the crisis-plagued South American nation.

Alitalia and Panama’s Copa Airlines this month became the latest carriers to cut flights to Caracas over the socialist government’s refusal to allow them to repatriate proceeds from ticket sales inside Venezuela. Foreign airlines say they have the equivalent of $4 billion trapped in the country when sales are converted at the official exchange rate of 6.3 bolivars per U.S. dollar.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.