Venezuela is going through a delicate economic situation. Our beloved country is in an economic crisis. The current government has put regulations on exchanging dollars, and in the private sector this means a challenge for the investors here. This had led to shortages, because the demand is higher than supply in this country, and each time it gets harder to bring goods from outside if the currency is being regulated by the government. In addition, according to the Washington Post, the inflation of 60% has led to prices of goods flying high in the skies.
Furthermore, one pivotal feature of shortage is airline tickets, since the airline companies stated the Venezuelan government owed 3 million dollars to these companies, some of them have already fled the country and stopped selling their airfare tickets such as Air Canada, and refunded all the tickets that were bought. While some of the companies have reduced their flights such as Avianca, which flies three times a day in Caracas, now it is only one, and others like Delta Airlines, only on weekends.
As a regulation law all the airfare tickets are bought in bolivares which is the local currency, but since 2012 the airlines haven’t been able to exchange this to dollars. Moreover, the values of the coin in Venezuela is getting worse every day, and the airlines feel that they are losing money, because the government has delayed over 2 years from now on to pay these companies in dollars. Finally, the government stated that any company that fled the country could never come back, and never do business with Venezuela again, unless they come to overthrow them. Hopefully for next year, they come up with an agreement with the airlines to solve the flight issue crisis.