About 1,000 vacationers have been forced to cancel trips to Malta, Cyprus, the Azores and Egypt.
Hispania's last customers are to return to Finland from the Azores and Cyprus on Tuesday.
It is contacting all customers and refunding money paid for cancelled trips. Hispania says that all clients will be repaid, either by the firm or by the Consumer Agency's package tour insurance system.
The company has also cancelled trips to Hurgada in the Egyptian Red Sea and Malta.
Customers already enjoying spring breaks in these locations will be flown back home during this week, Hispania said on its website.
However, vacationers who were looking forward to visiting these destinations will be provided with other options.
As a result of Hispania’s cancellations, fellow operator Aurinkomatkat has also been forced to red-line trips to the Azores. Hispania and Aurinkomatkat shared seats to the Portuguese destination.
Aurinkomatkat Communications Manager Leila Repo told Yle that the operator had only a small number of seats reserved on the flight to the Azores. With Hispania pulling out of the destination, it could not itself fill the flight.
The cancellations affect about 1,000 passengers, who will now be re-directed to other vacation hotspots.