I was wondering when GAAP and other accounting principles would require that AA write off this (probably) worthless asset. No big surprise.
Originally Posted by
mvoight
There must be a better way than dumping the whole $592 million.
AA probably isn't "dumping" anything. More likely, AA is writing off the $600 million but is probably retaining the several billion Venezuelan Bolivars just in case it can repatriate some of the money in the future. In that case, any future Dollars that AA is able to withdraw from Venezuela would constitute "income" (since the were written down to zero).