STOCKHOLM, Sweden — Nordic Airways, a Stockholm-based airline that launched its first commercial flights between western Europe and Baghdad earlier this month, has had its operating license revoked due to financial troubles, a Swedish Transport Agency official said Saturday.

Agency spokesman Anders Lundblad said the license was pulled Friday after the Stockholm County Court rejected the company’s request for an extension to restructure itself.

Lundblad said passengers could be stranded because the fleet was grounded with immediate effect.

“It’s very possible, since they can’t fly back with them,” he said.

Nordic Airway officials did not immediately return calls seeking comment.

In its decision, the agency cited the airline’s ailing finances, saying it could “no longer fulfill its commitments and obligations toward its passengers.”

Nordic Airways launched its Copenhagen-Baghdad route in the beginning of January with flights planned once a week between the Danish and Iraqi capitals.

The company had its permanent license replaced with a time-restricted temporary permit in October after it had applied for reconstruction due to financial difficulties. That license was due to expire on Feb. 15.