Lufthansa suspends flights to Venezuela over economic crisis
BERLIN, CARACAS - German carrier Lufthansa announced it will suspend three weekly flights to Venezuela from June over the economic crisis in the country and struggles in transferring currency.
“We have decided to suspend the service between Frankfurt and Caracas for the time being as from June 17. The reason for this is the difficult economic situation and the fact that is it is not possible to transfer foreign currency out of the country,” the spokesman explained. He also stated is not clear, when the operations between Germany and Venezuela will resume.
The German airline has faced a sharp drop in ticket demand, especially among business travelers as Venezuela is hit by the economic crisis, caused by low oil prices. What is more, currency controls in Venezuela make very hard for the carriers convert their earnings into dollars and send the earnings overseas.