Chile's travel agencies have lost at least three million U.S. dollars due to the unexpected closure of the Spanish airline Air Madrid, Guillermo Correa, president of Chile's Tourism Companies Association said on Friday.

Correa met with Juan Carlos Latorre, president of the public works and telecommunication committee to discuss the precarious financial situation of Chile's travel agents.

He told media that travel agents had "easily lost three million dollars... Now we think about what could have happened if another airline closes."

Correa stressed that the closure would have an important effect on the Chilean travel agents.

Latorre called on Chile's legislature to draw up a new law to protect its travelers and travel agents as soon as possible.

Air Madrid suspended all flights on Dec. 15. Its 30 months of operations had been plagued by delays and safety problems.

Source: Xinhua