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Industry Group: Venezuela Agrees to Repatriate $3.8B Airline Revenues

Venezuela's government will allow foreign airlines to repatriate $3.8 billion in ticket sales revenues that had been stuck inside the country due to currency controls, Venezuela's airline industry association said on Friday. The South American nation requires airlines to bill tickets in the local bolivar currency. For close to two years the state currency board has denied airline requests to convert ticket sales revenues into hard currency and repatriate the...

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