{"id":163,"date":"2016-01-15T13:10:43","date_gmt":"2016-01-15T19:10:43","guid":{"rendered":"http:\/\/planesintheair.com\/?p=163"},"modified":"2016-02-15T21:53:12","modified_gmt":"2016-02-16T03:53:12","slug":"american-airlines-writes-off-592-million-in-venezuelan-cash","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=163","title":{"rendered":"American Airlines Writes Off $592 Million in Venezuelan Cash"},"content":{"rendered":"<p>American Airlines announced that it wrote\u00a0off $592 million in\u00a0cash that it was unable to extract\u00a0from Venezuela on\u00a0its fourth quarter report. American, as well as other airlines, have been unable to repatriate\u00a0funds originally collected in\u00a0Venezuelan currency over the course of the last 3 years. Inflation has reduced the value of the Bolivar to almost\u00a0zero. However, the government has maintained official conversion rates that are falsely\u00a0high. With\u00a0the government of Venezuela is essentially\u00a0bankrupt, and there is very little hope for foreign businesses to get their\u00a0money out of the country. After\u00a0reducing\u00a0flight capacity to Venezuela 80% in 2014, American Airlines resumed its service between New York City JFK and Caracas last December.\u00a0American also operates\u00a0between\u00a0Miami and the Venezuelan cities of\u00a0Caracas\u00a0and\u00a0Maracaibo. Tickets for all of these flights may be purchased only in US dollars, or other viable foreign currencies.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-164\" src=\"https:\/\/planesintheair.com\/wp-content\/uploads\/2016\/01\/AA-300x91.jpg\" alt=\"AA\" width=\"630\" height=\"191\" srcset=\"https:\/\/planesintheair.com\/wp-content\/uploads\/2016\/01\/AA-300x91.jpg 300w, https:\/\/planesintheair.com\/wp-content\/uploads\/2016\/01\/AA-768x232.jpg 768w, https:\/\/planesintheair.com\/wp-content\/uploads\/2016\/01\/AA-1024x309.jpg 1024w, https:\/\/planesintheair.com\/wp-content\/uploads\/2016\/01\/AA.jpg 1279w\" sizes=\"auto, (max-width: 630px) 100vw, 630px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>American Airlines announced that it wrote\u00a0off $592 million in\u00a0cash that it was unable to extract\u00a0from Venezuela on\u00a0its fourth quarter report. American, as well as other airlines, have been unable to repatriate\u00a0funds originally collected in\u00a0Venezuelan currency over the course of the last 3 years. Inflation has reduced the value of the Bolivar to almost\u00a0zero. However, the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89],"tags":[],"class_list":["post-163","post","type-post","status-publish","format-standard","hentry","category-aviation-news"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=163"}],"version-history":[{"count":3,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/163\/revisions"}],"predecessor-version":[{"id":523,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/163\/revisions\/523"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}