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Low cost airline Ryanair has closed its Spanish base at Valencia Airport following an argument with local authorities regarding the allocation of funds to airlines operating out of the airport. The airline was told by the Comunitat Valenciana, who control the distribution of funds for the marketing of the area local to the Spanish city, that there were in fact no funds available to promote the region throughout Europe. This was in spite of the fact that the organisation gave funding to the local airline for marketing purposes. Ryanair confirmed that it will continue with very limited operations from other airports to Valencia, with an announcement of the new base location to come next week. Ryanair's deputy chief executive Michael Cawley said: 'We will maintain limited operations to Valencia Airport from other bases and should the Comunitat Valenciana wish to engage with Ryanair in the future, we would be prepared to commence sensible discussions and indeed if conditions were appropriate to even recommence a base operation at Valencia. '