Palma de Majorca, Spain - The Spanish civil aviation authorities have suspended the operating licence of Futura International Airways after it sought bankruptcy protection, the charter carrier said Monday.

The licence could, however, be reactivated if Futura found an investor to finance its savings plan before 2009, the airline quoted the aviation authorities as saying.

Futura chairman Roman Pane earlier said the airline would reduce its staff of nearly 1,200 by half and trim its high-season fleet from 22 to about 12 aircraft.

Futura was founded in 1989 with the participation of Irish carrier Aer Lingus, which sold off its majority stake in 2002 and its last 20 per cent in October.

One of Europe's biggest charter airlines, Futura transported 3.7 million passengers in 2007.

The airline has blamed its difficulties mainly on high oil prices. (dpa)