The funds represent revenues from ticket sales, cargo services and other commercial activities that airlines are entitled to repatriate under bilateral air service agreements. However, restrictions such as inconsistent approval procedures, delays, lack of foreign exchange and additional government-imposed requirements continue to hinder the process.\
“Airlines need reliable access to their revenues in U.S. dollars to keep operations running, pay their bills, and maintain vital air connectivity. Governments have committed to unfettered repatriation of funds in bilateral agreements. With low margins and significant dollar-denominated costs, airlines depend on governments fulfilling that commitment. It is also in the interest of governments to foster the economic catalyst that airlines provide by connecting their economies globally. That’s why we urge governments to facilitate the efficient repatriation of airline funds and prioritize this in foreign exchange allocations, even when currency is in short supply,” said Willie Walsh, IATA’s Director General.
Ten countries account for 89% of the blocked funds
IATA highlighted that ten countries across Africa, the Middle East and South Asia are responsible for USD 1.08 billion of the total blocked amount.
| Country | Amount HELD in USD Million |
|---|---|
Algeria | $307M |
XAF Zone* | $179M |
Lebanon | $138M |
Mozambique | $91M |
Angola | $81M |
Eritrea | $78M |
Zimbabwe | $67M |
Ethiopia | $54M |
Pakistan | $54M |
Bangladesh | $32M |
*XAF Zone (Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea, Gabon).
- Algeria now tops the global list for the first time, following significant increases linked to a new approval requirement from the Ministry of Trade, adding further administrative burden for airlines. IATA urged Algeria to eliminate unnecessary procedures.
- In the XAF Zone, where countries use the Central African CFA franc, blocked funds have slightly decreased from USD 191 million since April 2025. However, airlines still face delays and heavy validation processes. IATA called for the regional central bank (BEAC) to streamline its internal three-step approval system to accelerate repatriations.
- Across the AME region, blocked airline funds total USD 1.12 billion across 26 countries.
“Political and economic instability are key drivers of currency restrictions across Africa and the Middle East, resulting in large sums of blocked funds. We recognize that allocation of foreign exchange is a difficult policy decision, but the long-term benefits for the economy and jobs outweigh short-term financial relief,” added Walsh.
Implications for the aviation sector
Blocked funds remain a significant operational risk for airlines, particularly in regions with currency shortages. Restricted access to revenue affects fleet operations, staffing, network planning and ultimately air connectivity – with wider implications for tourism-driven economies.
Tags: Willie Walsh, IATA
