The governments of the two nations have vowed to "restore air connectivity" and keep diplomatic channels open in order to maintain "constructive bilateral relations," the statement read.
Venezuela’s President Nicolas Maduro said earlier his country would lift the ban on Panama’s air carrier Copa starting Friday. They will also restore diplomats to each other’s capitals after recalling them in early April.
Flights from Panama were grounded on April 6 as part of a three-month freeze on ties with Panamanian businesses after Panama put Maduro on a money laundering watch list. Panama responded days later by banning all flights by Venezuelan airlines.