May 30, 2016 / 8:57 AM / 2 years ago

Lufthansa owed over $100 mln in Venezuela - spokesman

FRANKFURT, May 30 (Reuters) - Venezuela owes Lufthansa over $100 million in ticket revenue, a spokesman said, after the German carrier said over the weekend it was suspending flights to Caracas next month.

Like other airlines, Lufthansa has struggled to repatriate revenue held in the local bolivar currency due to exchange controls and had already reduced flights to the country to limit its exposure.

A spokesman for the airline said on Monday that the Venezuela government owed it a “low three-digit million euro” amount and that it could not yet say whether that amount would be written off. (Reporting by Peter Maushagen; Writing by Victoria Bryan; Editing by Maria Sheahan)

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