A Spanish-based airline which flew to European hotspots from UK airports airport has suspended all flights due to its "financial situation".
Among the destinations that LTE International operated were Majorca, Tenerife, Barcelona, Malaga and Alicante.
UK holiday company Cosmos said that around 350 of its holidaymakers due to fly out to Tenerife today with LTE were now being flown out by UK holiday airline Monarch.
Cosmos added that about 350 Britons due to return from Tenerife to the UK today with LTE would now fly back to Manchester airport tonight with Monarch.
"We are reviewing what will happen over the next few days," a Cosmos spokeswoman said.
On its website today, LTE said: "We 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 minimise 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 apologise for the inconvenience this may cause to our passengers, clients and suppliers."