Spain’s long-haul leisure carrier Air Comet stopped flying today, stranding thousands of passengers at airports in Spain and Latin America.

The carrier’s fleet was impounded through a London court order that had been pursued by German HSH Nordbank. The Spanish government also has now withdrawn Comet’s operating license, saying the airline lacks the financial means to continue flying.

Air Comet is part of the Marsans travel group. It has focused on services between Spain and Latin America, with its main operating base in Madrid. HSH Nordbank says it owns the 13 aircraft operated by Air Comet, but has not received leasing payments from Air Comet recently. The bank pointed out that it offered the airline to operate the aircraft for some more days to be able to bring Christmas holidaymakers to their destinations. But according to the Spanish transport ministry, the airline did not even have enough money left to pay for fuel and fees.

Air Comet allegedly has not paid salaries and social security expenses for several months. The airline said it plans to lay off all 640 employees and file for bankruptcy.

The airline’s demise is the second of a European leisure carrier this month. Last week, Flyglobespan ceased operations. HSH Nordbank says it is in talks to remarket the aircraft with other airlines. Air Comet’s fleet consisted of Airbus A340-300s, A330-200s and two A320s for European services.