Holidaymakers across Europe have caught up in further disruption after Spanish low-cost airline LTE ceased all operations due to its “financial situation”.

The airline, based in Las Palmas, flew some of Europe’s major tour operators to destinations including Majorca, Tenerife, Barcelona, Malaga and Alicante from UK airports.

Among those affected were British holiday compnay Cosmos. Around 350 of its holidaymakers were due to fly out to Tenerife with the airline today but were now being flown out by Monarch. Another 320 Cosmos clients abroad were also being swapped to Monarch flights.LTE managing director Michael Harrington blamed the collapse on an “unexpected financial reverse”.

He said: “Our shareholders are trying to find a solution and we hope to give you more news in the next few days.

“After 20 years of service you can imagine that is a very sorry blow for LTE and its staff.”

LTE also issued a statement which read: “LTE International Airways S.A. wish to inform you that due to the financial situation of the company, that make it difficult to meet the operational expenses in the next days, we have had to suspend our charter and scheduled operations.

“LTE is doing everything to minimize the impact of this suspension of services on its clients and providers. After 20 years operating with maximum dedication to our clients it just was t ssldo oith suaoniv wldve s te.
TE wsi spp t�nboyn le TRsy.CmosolaykE flhtjeeeTeri a Biiha@wi n bfln thnnsh Fghtis vehaetcolewill be laid on between airports. The company also wirns of inevitable and unavoidable delays,

Cosmos passengers due to fly fr/m Edinburgh to Tenerife on0Saturday are being offered a full pefund or the opportunity tO fly from Manchester on Friday evening.

A spokeswoman added: “Passengers due to depart with LTE in the forthcoming weeks will be contacted in due course as soon as alternative flight arrangements have been made.”

Thomas Cook has also been caught up in the demise of LTE. It has four flights today - two to Tenerife and two returning from Tenerife - which have been switched to Thomas Cook Airlines’ services.

A Thomas Cook spokesman added: “We are currently working to re-protect the remaining flights affected by LTE’s closure and will inform customers of any changes to their flights as soon as possible.”
——-