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realclearworld

Castro-style scam devastates international airline business in Venezuela

thief-e1374201830973

It's theft, plain and simple.

And, of course, it is the kind of thievery that the Castro Kingdom has been perfecting for over five decades.

It's also the kind of thievery that leads to chaos and the collapse of international trade.

In Caracastan, over 4 billion dollars have been stolen from international airlines.  As a result, these companies are rapidly cutting service to the Castronoid colony, further isolating the country.

But the Castro-Cubans in Venezuela who helped Chavez and Maduro to establish and maintain this colossal theft couldn't care less about the consequences of the policies they have set in place.  As they steal money from "capitalist" airlines, they also drive more nails into the coffin of Venezuela's independence, bringing it into tighter control from Havana.

ñooooo!...vamos requetebien en Venenozuela!

ñooooo!...vamos requetebien en Venenozuela!

The Castro-style scam and its consequences are clearly and succinctly explained in an article from CNN:

(CNN) -- First, Air Canada decided to suspend all of its flights to Venezuela in late March. And now, Alitalia is following suit.

In a statement sent to CNN, the Italian airline says that it's suspending the flights "due to the ongoing critical currency situation in Venezuela," which is "no longer economically sustainable."

The suspension goes into effect on June 2.

For the last 11 years, Venezuela has tightly controlled all cash flow within its borders. Under the Venezuelan system, all money collected in ticket sales has to be deposited into an account controlled by the government. No funds can be withdrawn from the account without permission from the officials who control it.

The government sets exchange rates for different sectors of the economy, according to priorities also set by officials.

"The bottom line is the airlines are asking for their money; the money that they've earned for services provided in transporting passengers from and to Venezuela. Unfortunately, again, the government is holding that money and not releasing it to the airlines," said Peter Cerda, regional vice president for the International Air Transport Association, which represents airlines around the world.

He calls the situation "an urgent issue."

In an interview with CNN, Cerda said Alitalia is not the only airline facing problems. In fact, he says, Venezuela owes 24 airlines around the world a combined $4 billion.

Cerda also says in the last year, 11 other airlines have reduced their number of flights to and from Venezuela for the same reason. This year, Colombia's Avianca has reduced itineraries by more than two-thirds. Other airlines represented by the International Air Transport Association are considering suspending all flights to Venezuela.

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