20/10/2008 05:25:00
Spanish airline company LTE has been 'suspended', leaving 750 holidaymakers stranded in the Canary Islands and mainland Spain.
The company was used by two prominent British tour operators - London-based Cosmos and Thomas Cook - as well as a number of smaller operators.
Approximately 350 Cosmos holidaymakers due to fly to Tenerife with LTE today were put on Monarch Airlines flights, while four Thomas Cook flights between Tenerife and the UK were transferred to Thomas Cook Airlines' services.
Holidaymakers who hold future holiday bookings with LTE through Thomas Cook, Cosmos and other tour operators will have their money refunded through the ATOL scheme. However, anyone who booked their flights directly through LTE will have to pursue a refund through their credit card company or travel insurer.
LTE's formal announcement of the suspension stated 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 minimise the impact of this suspension of services on its clients and providers."
The airline's managing director, Michael Harrington, said: "After 20 years of service you can imagine that is a very sorry blow for LTE and its staff."
Managing director at Norwich Airport, Richard Jenner, told the Telegraph: "At the moment, LTE tells us that this suspension is only temporary, and some parts of the airline are still operating. LTE is not in liquidation or bankruptcy. It is too early to say if these flights will be reinstated."
The carrier currently has a fleet of seven 180-passenger Airbus A320s out of bases in Palma de Mallorca, the Canary Islands and Milan.
