Valencia, Spain  - The low-cost airline Ryanair on Friday announced the closure of its base in the eastern Spanish city of Valencia, citing the refusal of the regional authorities to discuss a proposal for a joint promotion project.

The Valencia authorities had refused to "engage in constructive discussions in relation to the promotion of the airport and its routes across Ryanair's network in Europe," the airline said in a statement.

Ryanair had sought a promotion campaign to which both parties would have contributed 1 million euros (1.3 million dollars), Ryanair deputy chief executive Michael Cawley said in Valencia.

Instead, Valencia granted 12 million euros in marketing support to the Spanish airline Air Nostrum, Cawley complained.

The closure will lead to a loss of more than 70 weekly Ryanair flights, 750,000 passengers annually and more than 750 jobs in the region, according to figures quoted by the airline.

Ryanair announced its new base in Valencia in August 2007. (dpa)