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Lufthansa suspends flights to Venezuela

German airline Lufthansa has announced it's suspending its three weekly flights to the country's capital. The decision comes amid growing concern about Venezuela's worsening economic situation.

Lufthansa said the decision was in response to Venezuela's worsening economy, which is on the verge of collapse due to plummeting oil prices.

The airline's three weekly flights to Caracas will be canceled "until further notice" beginning on June 17, spokesman Andreas Bartels said on Sunday.

Bartels also cited difficulties in currency transfer as a reason for the move.

Worsening crisis

Venezuela's economy has suffered greatly following the downturn in global oil prices, shrinking 5.7 percent last year. Basic necessities, such as food and household supplies, have become increasingly scarce, and the country is also suffering from a drought, which has led to a nationwide shortage of electricity.

On top of those problems, the government has created subsidized rates for hard currency and made it more difficult for foreign companies to concert bolivars into dollars.

The worsening crisis has led the opposition in Venezuela to call for the ouster of President Nicolas Maduro, successor to Hugo Chavez.

blc/sms (Reuters, AP)

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