Latin America's largest airline says it's suspending its flights to Venezuela.

Monday's statement by the Chile-based LATAM blames the "difficult macroeconomic scenario" affecting the region.

Germany's Lufthansa took the same decision over the weekend citing the difficult economic situation in Venezuela.

Many airlines have complained that the country's currency restrictions have made it impossible to receive the hard currency needed to cover their costs.

LATAM says flights between Sao Paulo and Caracas stopped Saturday and those between Santiago and Lima will be suspended by July.

Venezuela is facing a severe economic crisis, with the world's highest inflation and shortages of basic goods.

Currency rationing is increasingly cutting Venezuela's global trade.