Bangladesh Bank has directed seven banks to settle the dues of various foreign airlines.
Bangladesh Bank Executive Director and acting spokesperson Abul Bashar gave the order at an emergency press conference on Tuesday.
The airlines have been paid $40.21 million since January. However, the airlines have a total debt of $17.77 million.
Meanwhile, the world aviation body has said in its latest data that the amount was $21.41 million.
The BB spokesperson also said that seven banks of the country have repayment capacity. Therefore, Bangladesh Bank has instructed them to pay the amount quickly.
The airline industry has seen blocked funds rise by nearly 50% in the past 12 months, posing an increasing risk to connectivity, according to the International Air Transport Association (IATA).
Outlining the latest data published on June 4, the airline association cited some $2.27 billion of blocked funds in April 2023, which represents a 47% rise from April 2022.
Meanwhile, Bangladesh currently holds the second highest amount of airline funds blocked for repatriation ($214.1 million).
On June 4, IATA in a statement warned that rapidly rising blocked fund levels threaten airline connectivity in the affected markets.
