Ethiopian Airlines is working to recover $45 million in revenue trapped in Russia after sanctions blocked standard bank-to-bank transfers, leaving ticket sales proceeds inaccessible. The amount forms part of roughly $90 million in unrepatriated airline funds worldwide, underscoring the pressure sanctions and payment restrictions continue to place on international carriers.
The blocked cash is tied to sales generated in Russia, with Moscow identified as the location where the funds are stuck. Ethiopian Airlines’ chief commercial officer, Lemma Yadecha, has linked the problem to the inability to move money through normal banking channels. The issue reflects a wider liquidity challenge for airlines operating in sanctioned markets, where revenue can be earned but not easily repatriated.
For Ethiopian Airlines, the cash restriction complicates treasury management at a time when carriers depend on steady access to foreign currency for operations, leasing, maintenance and network growth. The broader figure of $90 million in unrepatriated funds also indicates that the airline’s exposure is not confined to one market, but is spread across multiple jurisdictions affected by payment disruptions.