In Brazil during the 1970s to 1990s, the fully refundable IATA ticket was also used by privileged Brazilians as a hedge against their country's hyperinflation (annually hundreds or even thousands of percent) and monetary restrictions.
Although international air fares were all priced in US$, they could be paid in local currency at that day's official exchange rate. Thus well-off Brazilians would simply buy tickets, and after 12 months just "roll them over" for new ones, thereby avoiding the previous year's local inflation. Such tickets could also be refunded for cash at any of the respective airlines' offices outwith Brazil. A useful by-pass for the politicians and wealthy Brazilians, alike.
Last edited by seafire6b; 22nd May 2014 at 09:41.