American Airlines has stopped accepting Argentine pesos to pay for tickets due to currency controls that make it hard to convert receipts into US dollars.
American Airlines told City A.M.:
We have not reduced our flights, although we currently do not have inventory available for purchase in Argentine Pesos due to repatriation issues. We look forward to working with the Central Bank and the new government on this matter.
American Airlines has proudly served Argentina for 25 years. We offer more flights from Argentina to the US than any other carrier.
The world's largest airline is not accepting cash or credit or debit transactions in pesos, but local media said ticket sales made before the airline's policy changed would be honoured.
Businesses have complained before about difficulties in Argentina's currency exchange market, thanks to policies enacted by left-wing President Cristina Fernandez
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Fernandez is stepping down in December, after two terms in office and conservative candidate Mauricio Macri, who won Sunday's presidential election, has promised to ditch trade and currency controls and introduce free-market reforms.
Macri, a former businessman and son of one of Argentina’s richest men, has promised to steer Latin America’s third-largest economy on to a more free-market course after a combined 12 years of leftist populism under President Fernandez and her late husband and predecessor Nestor Kirchner have left the country with double-digit inflation and a widening fiscal deficit.
Fernandez has been barred from seeking a third term but it has been widely speculated that she may stage a quick return to national politics.