Insel Air will not expand to Venezuela

POSTED: 02/18/13 12:28 PM

WILLEMSTAD, Curacao – The aviation company Insel Air has decided to temporarily stop the expansion of its flights to Venezuela.

This is a direct consequence of the devaluation of the bolivar, which since today has become one third less compared to the value of the dollar. Insel Air flies to Caracas, Barquisimeto, Las Piedras, Maracaibo and Valencia. The aviation company has frozen its plans to operate to Puerto la Cruz and Isla Margarita. “We are not going to stop our current routes, but we have decided to give more priorities to other countries,” Director Edward Heerenveen said.

Insel Air’s next destination will be Barranquilla in Colombia. Heerenveen hopes that this connection will become true in May of this year.

The Venezuelan President Chavez introduced in 2003 a fixed foreign exchange policy to combat capital flight. A dollar was according to the artificial exchange, 4.30 bolivar. But on the black market the value was about 4 times more. Now is the official exchange 6.30 bolivar for a dollar, which is still less than the street value.

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