Low cost Spanish airline LTE Airways has suspended flights because it is unable to meet its operating costs.

The airline is based in Palma, Majorca and operated flights between Spain and the UK, Italy and Saudi Arabia. In a statement on its website, the airline said it was currently unable to meet its operational expenses.

It said: “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 not possible to avoid this situation given world events lately.

“We apologize for the inconvenience this may cause to our passengers, clients and suppliers.”

Harvey World Travel, which has 19 branches in East Anglia, has 12 customers in resort and 20 booked to travel from Norwich Airport with LTE Airways. The airline provided services between Norwich and Barcelona, Alicante and Palma. LTE also flew from Norwich to Las Palmas and Tenerife in the winter.

Harvey World Travel general manager Andy Tomlinson said: “All our customers were booked through ATOL-protected tour operators so they will be covered. We are working with tour operators to find alternative flights. If none are found, customers will be entitled to a refund.”

He added: “If the airline goes under it will be bad news for Norwich Airport as several of the charter airlines have cut their services from Norwich. When LTE announced it was flying from Norwich earlier this year the news was really welcomed  by ourselves and other independent travel agents.”

The Spanish CAA is due to discuss LTE’s situation and make a decision on the future of the airline.

LTE Airways is the fourth Spanish airline to cease flying in recent months, following the discontinuation of services by Futura, Lagunair and Flysur.