Companies are reviewing their travel policies, the company says.
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Airline operator Lufthansa has said it will suspend flights between Bristol and Frankfurt from 1 May.
The company blames the recession for the decline in passengers on the Bristol route.
When the airline announced three direct flights a day from Bristol to Germany in April 2008 it was heralded as a coup for Bristol International Airport.
An airport spokesman said the news was a "disappointment" but that the route still has "great potential".
But Hilary Burn from the campaign group Stop Bristol Airport Expansion said: "The loss of this route clearly shows there isn't the demand from the southwest's businesses to connect to what is a major hub for long haul global destinations.
"(This) shows yet again that the justification for the airport's expansion is actually being driven by cheap flights to short-haul leisure destinations."
Indirect route
Lufthansa believe more companies are using video-conferencing facilities rather than flying to face-to-face meetings.
"Companies are reviewing their travel policies", Marianne Sammann, Lufthansa's UK manager, said.
"They are going to two meetings instead of three, and sending three people instead of five."
Bristol International Airport spokesman, James Gore, added it would be working hard to see the service resume at the earliest opportunity.
In the meantime, Lufthansa has a partnership with Brussels Air, which will give customers an indirect route to Frankfurt, changing planes at Brussels.
Passengers who have already paid for a Frankfurt flight from Bristol after 1 May will be contacted and either given a refund or an alternative flight, Lufthansa said.
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