Markets

Delta Air Lines cutting back flights to Venezuela

/ AP

CARACAS, Venezuela - Delta Air Line (DAL) is reducing service to Venezuela amid a dispute with the government over revenue trapped in the South American country.

Delta spokeswoman Sarah Lora confirmed Monday that the carrier is reducing service by 85 percent, replacing its daily roundtrip flight between Atlanta and Caracas with one roundtrip weekend flight as of Aug. 1.

Lora declined to say how much money Delta has stuck in Venezuela because of the government's hold on repatriation of airline revenue.

Other airlines are locked in similar disputes. American Airlines reduced it service to Venezuela by 80 percent last week and now only flies in from Miami.

The International Air Transport Association says Venezuela has prevented the repatriation of $4 billion in airline money because of currency control problems.

First published on July 7, 2014 / 1:02 PM EDT

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