Argentina: » Extreme shock» among airlines due to new BCRA measures for the purchase of tickets to foreign countries
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Resolution 7407 of the Central Bank of Argentina (BCRA), which establishes a restriction on the purchase of airline tickets and services abroad -car rental, lodging, etc.- in installments with credit cards, was published late this afternoon (Nov 25)
According to its resolutive part, the regulation states: » It is established, effective as from 11.26.21, that financial and non-financial entities issuing credit cards must not finance in installments the purchases made by their customers’ credit cards -human and legal persons- of tickets abroad and other tourist services abroad (such as accommodation, car rental, etc.), either made directly with the service provider or indirectly, through travel and/or tourism agencies, web platforms or other intermediaries.»
A7407The entity added that «airline tickets with domestic destinations may be financed with credit cards within the Ahora 12 programs promoted by the National Government. On the other hand, the purchase of airline tickets to foreign destinations may be financed with credit cards at a rate of 43%, according to a provision of the BCRA».
As a matter of fact, the purchase of tickets and services will be subject to the available limit in one payment and to the financing of the summary directly with the credit institution.
The measure comes a few weeks after the total reopening of the airline system and a few hours before the local version of Black Friday, an event that several companies were waiting for to offer promotions in installments.
Industry sources consulted by Aviacionline stated that airlines were surprised by the BCRA’s measure and speak of a «state of total shock».
«It is very difficult for airlines to survive only with foreign tourists and without some outbound passengers. Thus, with the 30% and 35% ( referring to taxes on the purchase of goods and services in dollars respectively) and now 45% more for financing, traveling from Argentina will become unviable».
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