Algeria has emerged as the largest holder of blocked airline revenues globally, according to the latest data from the International Air Transport Association (IATA). As of the end of October 2025, the North African country was responsible for US$307 million of the total US$1.2 billion in airline funds that remain trapped by governments.
In a key turnaround, Nigeria once among the worst offenders is no longer on the list. The country reportedly cleared 98 percent of its previously blocked funds in 2024, a move that led IATA to remove it from the defaulters’ roster. IATA’s December 2025 report highlights a worrying concentration of blocked revenues: 93 percent of the world’s trapped airline funds are held across countries in Africa and the Middle East. Alongside Algeria, other nations on IATA’s “blocked funds list” include Lebanon (US$138 million), Mozambique (US$91 million), Angola (US$81 million), Zimbabwe (US$67 million) and Ethiopia (US$54 million).
According to IATA’s Director-General, Willie Walsh, airlines need “reliable access to their revenues in U.S. dollars” to remain operational, particularly because many of their costs such as fuel, maintenance, leasing and international services are dollar-denominated. The continued withholding of funds by governments often enforced through restrictive currency-repatriation policies or bureaucratic delays undermines the business viability of airlines and threatens to erode vital international connectivity. In regions where funds are blocked, airlines may find it increasingly difficult to maintain flight schedules, invest in maintenance, or expand routes.
For Nigeria, the clearance of nearly all blocked funds represents a significant success, potentially restoring confidence among airlines and investors, and easing travel and cargo operations that once suffered from cash-flow constraints.
Outside Nigeria, however, the high concentration of blocked funds among a small group of countries sends a stark signal: until governments lift currency restrictions and streamline repatriation of airline revenue, the region’s aviation sector and by extension international travel, trade and economic connectivity risks prolonged instability.
It remains critical for the global aviation industry that affected governments honour their commitments under bilateral air-service agreements and treaty obligations to allow timely repatriation of airline revenues. As IATA emphasises, doing so is not just in the interest of airlines, but vital for economies that depend on reliable air links for commerce, tourism and growth.
