Governments worldwide are blocking $1.7 billion in airline funds as of October's end, threatening global aviation connectivity, according to a report by the International Air Transport Association. While this marks a slight improvement from $1.8 billion in April 2024, the issue remains critical as airlines struggle to access revenue from ticket sales and other operations.
Nine countries accounting for 83 per cent of the airline industry’s blocked funds, amounting to $1.43 billion, include Pakistan, Bangladesh, and several African nations, Iata said. Pakistan alone accounted for $311 million in blocked funds, however that's down from $411 million in April. In Pakistan, the main problem is the system of audit and tax exemption certificates, which is causing long processing delays, said Iata, which represents nearly 340 airlines comprising over 80 per cent of global air traffic.
Iata’s director general Willie Walsh urged governments to uphold their treaty obligations and enable the repatriation of airline funds, warning that any delay could jeopardise aviation connectivity and harm local economies. He said airlines cannot be expected to maintain services if they are unable to access their own revenue.
“This unfortunate game of ‘whack-a-mole’ is unacceptable. Governments must remove all barriers for airlines to repatriate their revenue from ticket sales and other activities in accordance with international agreements and treaty obligations.
“No country wants to lose aviation connectivity, which drives economic prosperity. But if airlines cannot repatriate their revenue, they cannot be expected to provide a service. Economies will suffer if connectivity collapses. So it is in everyone’s interest, including governments, to ensure that airlines can repatriate their funds smoothly,” Mr Walsh said.
In Bangladesh, the amount of blocked funds decreased to $196 million from $320 million in April. Its central bank needs to “prioritise airlines’ access to foreign exchange in line with international treated obligations”, Iata said.
In Africa, about 59 per cent of total blocked funds – nearly $1 billion – remain stuck in countries including Algeria, Ethiopia, and Mozambique, despite reductions in some areas. Over the last six months, there were significant reductions in blocked funds in Algeria ($193 million from $286 million in April) and Ethiopia ($43 million from $149 million in April). At the same time, XAF zone (over $84 million), Mozambique (over $84 million) and XOF zone (over $73 million) contributed to the largest increases, Iata said.
The XAF and XOF are regional currencies used by countries in Central and West Africa, respectively, both of which are pegged to the euro and subject to foreign exchange controls that can restrict the repatriation of airline revenue.
Bolivia is new to the list of blocked fund countries, Iata said. A further deterioration in the availability of foreign exchange, particular the US dollar, has resulted in an estimated $42 million in airline funds being blocked in the country.
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
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The Bloomberg Billionaire Index in full
1 Jeff Bezos $140 billion
2 Bill Gates $98.3 billion
3 Bernard Arnault $83.1 billion
4 Warren Buffett $83 billion
5 Amancio Ortega $67.9 billion
6 Mark Zuckerberg $67.3 billion
7 Larry Page $56.8 billion
8 Larry Ellison $56.1 billion
9 Sergey Brin $55.2 billion
10 Carlos Slim $55.2 billion
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Quick pearls of wisdom
Focus on gratitude: And do so deeply, he says. “Think of one to three things a day that you’re grateful for. It needs to be specific, too, don’t just say ‘air.’ Really think about it. If you’re grateful for, say, what your parents have done for you, that will motivate you to do more for the world.”
Know how to fight: Shetty married his wife, Radhi, three years ago (he met her in a meditation class before he went off and became a monk). He says they’ve had to learn to respect each other’s “fighting styles” – he’s a talk it-out-immediately person, while she needs space to think. “When you’re having an argument, remember, it’s not you against each other. It’s both of you against the problem. When you win, they lose. If you’re on a team you have to win together.”
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Andy Murray - hip
Novak Djokovic - elbow
Roger Federer - back
Stan Wawrinka - knee
Kei Nishikori - wrist
Marin Cilic - adductor
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Sudden change in behaviour or displays higher levels of stress or anxiety
Shows signs of depression or isolation
Ability to sleep well diminishes
Academic performance begins to deteriorate
Changes in eating habits
Struggles to concentrate
Refuses to go to school
Behaviour changes and is aggressive towards siblings
Begins to use language they do not normally use
MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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Director: Scott Cooper
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Rating: 4/5
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