Spain's Development Ministry said Tuesday it had withdrawn the flying license for debt-stricken Air Comet, leaving thousands of Christmas travelers to Latin American destinations stranded at Madrid's airport.
The airline, owned by Spanish tourism and transportation company Grupo Marsans, operates daily flights to Argentina, Colombia, Cuba, Ecuador and Peru. Most of its flights are in and out of the Spanish capital
Development Minister Jose Blanco said alternative travel plans would be arranged for passengers affected.
The company employs 640 staff and has a fleet of 13 planes with some 1,500 passengers daily.