Mexico’s Flag Airline Considers Suspending Flights to Crisis-Hit Venezuela

Mexico’s flag carrier Aeromexico is considering suspending flights to crisis-hit Venezuela, the airline’s CEO Andres Conesa said.

MEXICO CITY (Sputnik) – Aeromexico currently operates one direct flight to Caracas per day. According to Conesa, Venezuela’s government has not authorized any repatriation of funds this year.

The Aeromexico CEO stressed, as quoted by Reportur on Thursday, that "the situation in Venezuela is unsustainable."

Venezuela’s debt to airline companies stands at around $800 million. The country is experiencing a severe economic crisis and political instability, as the opposition blames President Nicolas Maduro for the economic problems.

Maduro declared an economic emergency in Venezuela in January. The announcement came two days after Venezuela’s oil price dropped to $24 a barrel, the lowest mark in 12 years. Up to 96 percent of Venezuela’s budget depends on oil revenues. The measure has since been extended.