Venezuela delays debt, forgives interest to Plus Ultra.
Venezuela’s oil company delayed paying a $6.1 million debt to Plus Ultra. The airline received relief from a $53 million payment. This affects Venezuela’s financial obligations.
Venezuela’s state-owned oil company made a payment change to Plus Ultra, a Spanish airline. The company was saved by Spain. Plus Ultra was allowed to leave without paying $53 million. The agreement had a rule for immediate repayment, but it was waived. Negotiations involved a payment manager connected to José Luis Rodríguez Zapatero.
Summarized from the sources above. Read the originals for the full story.
Highlights
Venezuela Postpones Plus Ultra Debt
Venezuela delayed a $6.1 million debt payment to Plus Ultra.
Plus Ultra Allowed to Leave
Venezuelan Plus Ultra can now depart without paying a $53 million rescue payment.
Zapatero Link in Negotiations
The debt relief involved a payment manager connected to José Luis Rodríguez Zapatero.
Rescue Payment Waived
The state-owned group waived a clause for immediate repayment.
US Debt Defaults Impacting Venezuela
Venezuela’s debt problems mirror defaults in the United States.