Lufthansa (LH, Frankfurt International) has announced it will reduce its services to Venezuela with effect from August 1. The German carrier said it intends to reduce its Frankfurt International to Caracas Simón Bolivar service from the current 5x weekly, to a 3x weekly service.
Lufthansa noted in its profit warning issued in June that its inability to access EUR60million (USD85million) in unrepatriated revenue tied up with Nicholas Maduro's government had had a significant impact on the airline's operations.
Other European carriers such as Alitalia (AZA, Rome Fiumicino) have already terminated their Venezuelan services while Spanish operator, Air Europa (UX, Palma de Mallorca), intends to reduce its flights by 57%. Following hard on the heals of recent announcements by US carriers American Airlines (AA, Dallas/Fort Worth), United Airlines (UA, Chicago O'Hare) and Delta Air Lines (DL, Atlanta Hartsfield Jackson), Aerolíneas Argentinas (AR, Buenos Aires Jorge Newbery) has said that while it will retain six weekly flights to Caracas effective August 8, it will reduce the total seating capacity available by downgrading the route from an A340-300 to a B737-800.
