It's true.
This story just appeared on El Mundo.
Apologies for the rough translation...
"LTE becomes the second Spanish airline that suspends operations in a month MADRID. -
Company LTE finishes suspending its operations, according to confirmed to this newspaper the Main directorate of Civil Aviation. Hardly two hours ago, the person in charge of the company telephoned to the Ministry of Public Works and the Economy to communicate the cease of his flights by financial reasons, according to confirmed sources near the company, that also noticed that the company has broken.
The company has sent also a message to the crew of its airplanes having alerted to them that " by problems bancarios" the operations will stop temporarily. This newspaper verified that no longer reserves through their page can be done Web.
Civil aviation required to LTE information on its economic situation 10 days ago. After facilitating that documentation, the company chose to suspend its activity. Sources of Promotion explained that the people in charge of Civil Aviation will tomorrow analyze the state of the company to make a decision on if they retire or they suspend the operation license to him. While east procedure lasts, LTE will continue having their license in force. LTE the Airways International is an airline of flights of low cost, with base in Palma de Mallorca, created in 1987.
It operates from Palm, the Canary Islands and Milan. It offers flights charter, planned rent of airplanes and flights. Airbus 320 with 180 places has a seven fleet of each. During great part of its trajectory alemaba LTU was ligature to the line, for which B757-200 operated flights through three. When one became independent from the Germans adopted the name To fly Airlines, that later became LTE. The past 8 of September, fell the first Spanish airline. Future it presented/displayed a contest of creditors, before whom Promotion asked for to the company a term of five days so that it contributed financial information on the company, a reorganization plan and another one of guarantee of security in its operations."
EDIT: And I'd have done it if it wasn't for that blasted fdgolf! Why I oughta...