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Budget airline easyJet has announced that its last flight will leave East Midlands Airport in less than a month.

The airline has confirmed it will be stopping operations from the county airport on January 5.

The airline, which flies from Leicestershire and gives customers the chance to enjoy Majorca holidays, as well as holidays in Prague and Venice, said the change was down to financial reasons.

Holidaymakers and business passengers with flights booked are being offered refunds or alternative tickets with easyJet from other airports or with bmibaby from Castle Donington - at no extra cost.

All flights will continue to go ahead as normal up until that point.

The company is now trying to get in touch with all of their customers caught up in the change.

An easyJet statement said: "We would like to thank our customers who have flown with us from East Midlands Airport and apologise for any inconvenience this decision will cause.

"We will continue to fly as normal from East Midlands Airport until 5 January 2010."

Bmibaby, which also operates from East Midlands Airport, will be picking up many of the routes abandoned by easyJet including Majorca holiadys and other top European destinations.

None of the routes affected by the withdrawal will be lost, the airport added.

Managing director at East Midlands Airport, Penny Coates, said: "We are naturally disappointed to hear that easyJet will leave the East Midlands region in 2010, but our passengers will be pleased to hear that all of the routes operated by easyJet are still available with other low cost carriers.

"That's why we welcome the new routes recently announced by bmibaby and the option for passengers to easily transfer flights already booked with easyJet to bmibaby.

"We will continue to work with easyJet to ensure all of our customers experience minimal disruption to any bookings and hope the many loyal passengers that have travelled with easyJet from East Midlands Airport, will continue to choose other carriers from the airport.

"Not only will the airport continue to offer the same choice of destinations but passengers will also benefit from new routes with bmibaby and next year."