http://www.theglobeandmail.com/news/world/world-insider/money-keeps-air-canada-grounded-not-civil-unrest/article17561570/#dashboard/follows/
exerpt...
Air Canada says the vast majority of its customers on the Toronto-Caracas route originate in Venezuela – meaning they bought their tickets in-country. But the government’s currency controls mean it is almost impossible for foreign firms to get money out of the country. So Air Canada isn’t getting paid for carrying most of those fliers.
The International Air Transport Association said last week that the Venezuelan government is blocking the repatriation of more than $3.7-billion (U.S.) in ticket revenue. The association isn’t saying who is owed what, and Air Canada refused to put a figure on what the company is owed.
“It is not sustainable to continue operating given the current circumstances,” Air Canada said in a statement, refusing to answer questions from media. The statement said the airline is “working with” the industry and government on the topic of currency controls.
Air Canada is the first major international carrier to make the decision to suspend flights to Caracas but it likely won’t be the last; the suspension is part of the incremental pressure mounting steadily on the embattled Mr. Maduro.
Speaking to reporters last week, President Maduro had warned that international airlines had “no excuse” to stop flying to Venezuela and that he would take “severe measures” against any that did.
“If an airline leaves the country, it’s not coming back while we are in government,” he said. Invoking a familiar explanation, he said that the airlines were part of the “economic war” being waged against his government by the private sector. Minister Garcia, announcing the revoking of the air service agreement with Air Canada, noted that Canada is a close ally of the United States, a country he said is advocating foreign intervention in the crisis in Venezuela.
