TAME suspends Venezuela flights amid currency crisis

Washington DC
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Ecuador's TAME has suspended flights to Venezuela, citing the held-up funds funds owed to the carrier by the South American country's government.

TAME estimates that it is owed $43 million. The carrier says flights will resume once it receives the funds, and that it will refund passengers who have paid for airfares.

Currency restrictions imposed in Venezuela in recent years have resulted in foreign carriers having billions of dollars in funds trapped in the country. Some airlines such as Spain's Air Europa have stopped local ticket sales in Venezuela.

Industry players have warned that Venezuela risks losing air service if the situation continues.