Lufthansa suspends flights to Venezuela

Lufthansa has announced that it will suspend flights to Venezuela from 18^th June citing the worsening economic situation in the country.

In a statement, the airline stated the service between Caracas and Frankfurt will be suspended.

The company also stated the strict currency controls, that have been in place since 2003, but that have been tightened in the last two years, as another reason for the suspension.

According to the company, the currency controls have made it impossible to convert earnings of the German airline to dollars and send the money aboard.

Lufthansa also stated that Venezuela owes the company millions of dollars in ticket revenue.

Some airlines have reportedly been asking for air fares to be paid in dollars rather that the local currency, the Bolivar.

Lufthansa noted that it hoped to restore services in the near future but with demand dropping in 2015 and the first quarter 2016 for flights to Venezuela, commentators are unsure when they will resume.

A day after the Lufthansa announcement, the largest airline in Latin America, Latam, also announced that they were suspending services to the country.

The Latin American nation is currently suffering high inflation and a severe shortage of basic goods and food.

Written by: Team Flight-Delayed.