Latam Airlines Group SA, Latin America's largest carrier, said Monday that it will become the latest airline to cut all flights to Venezuela beginning in August. A day earlier, Deutsche Lufthansa AG says its three weekly flights to Caracas will be halted in June "until further notice."
The Chile-based LATAM Airlines says it had already suspended flights from Sao Paulo, Brazil and would suspend flights from Lima, Peru, Guayaquil, Ecuador, and Santiago, Chile by the end of July. Lufthansa, one of Europe's largest airlines, is set to stop all flights to the country beginning on June 17. Andreas Bartles, the German airline's spokesman, said there were two major reasons for the decision. Namely, repatriating revenue from the South American country due to currency controls, and a sharp drop in ticket demand, particularly among business travelers.