American Airlines is to cut almost 80% of its flights between the US and Venezuela from next month in a row over revenue being held in the South American country.
The carrier says Venezuela is holding on to at least $750 million in revenue that it wants to bring back to the US.
American, the largest foreign carrier serving Venezuela, is part of a growing list of airlines moving to suspend service or reduce flight frequency as Venezuela’s cash-strapped government delays payment of what Iata estimates as $4 billion owed with airlines.
The airline is cutting the number of weekly flights to 10 from 48 from July 2. Direct flights on the Caracas-New York and the Caracas-Dallas/Fort Worth routes will be scrapped.
The carrier will run eight flights a week between the Venezuelan capital and Miami, in addition to two weekly services between Miami and the western oil-rich city of Maracaibo.
A spokesman said: “Since we are owed a substantial outstanding amount ($750 million through March 2014) and have been unable to reach resolution on the debt, we will significantly reduce our flights to the country after July 1.”