As a result, electricity is rationed, food is sparse, medical supplies are running out, and a huge percentage of the country’s workers are unemployed.
But as CNN points out, a weak economy isn't the only reason why airlines are jumping ship. A Lufthansa spokesperson told the outlet the company is "having trouble converting Venezuelan currency."
The converting-currency issue has been around for a while. Several airlines halted service to Venezuela in 2014 after the country's government said it couldn't cash in their profits in dollars. It's not clear when or if LATAM or Lufthansa will resume flights to the country.
This video includes images from Getty Images.