Cuban Airline with Limited Resources Due to U.S. Blockade

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Cubana de Aviacion S.A. is experiencing serious difficulties in buying or leasing aircraft with technical components of practically any technology due to the economic, financial and commercial blockade of the United States, the government reported here.
 
The extraterritorial effect of the sanctions makes it impossible for the company to access aircraft produced by companies such as Airbus, Dassault and Boeing, said the report presented by the Foreign Ministry.
 
Cubana de Aviacion cannot carry out the maintenance of the equipment in specialized agencies of many countries, said the document with a view to the next examination of the issue within the United Nations.
 
In addition, the obstacles imposed by Washington for banking transactions 'extremely limit' Cubana de Aviacion's performance as an airline, it said.
 
The entity cannot benefit from possible permits for the acquisition or lease of aircraft in the United States, as well as for the purchase of pieces, although the executive of the northern country established it.
 
These transactions are not viable from the commercial and financial point of view due to the permanence of the set of laws and additional regulations of the blockade, said the Cuban Ministry of Foreign Affairs (MINREX).
 
'The impact of these measures on the safety of flights, the stability of the airline and its chances of survival is evident,' estimated the body.
 
In general, transportation is among the most affected sectors: from April 2017 to March 2018, damages from the blockade rising to 101,550,000 dollars were reported, it said. / PL

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