Friday, September 19, 2014

Argentina: American Airlines Refuses to Sell Airline Tickets More Than 90 Days in Advance

According to EFE, American Airlines will not sell tickets in Argentina more than 90 days in advance, a move that President Cristina Fernández’s government described Thursday (September 18) as an “attack against the country to cause uncertainty” regarding its currency.

Representatives of the US-based carrier confirmed the decision to EFE, but they did not explain their motives.

Cabinet chief Jorge Capitanich said the measure was part of “speculators’ attacks against the country” to push down the value of the peso.

COMMENT: “These are groundless speculative attacks intended to create doubts about the exchange policy in Argentina,” Capitanich said during his daily press conference.

Argentines should be proud of state-owned Aerolineas Argentinas, which “continues selling tickets with any advance period the passenger deems necessary,” Capitanich said.

Argentina’s economy is contracting amid disputes with creditors in the United States, a drop in Central Bank reserves and increasing pressure for a currency devaluation.

The Argentine government implemented an official exchange rate regime in 2011 that for the past few weeks has kept the peso at 8.40 per dollar.

The exchange rate on the black market, however, was 15 pesos per dollar on Wednesday (September 17). 
 

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