One of China's private airlines has suspended passenger flights due to financial and management problems, state media reported on Saturday, the latest victim of the global economic crisis.

OK Air, which operates over 20 routes around the country, suspended the service 10 days ahead of schedule, the official Xinhua news agency said, without giving further details.

Mr Wang Junjin, chairman of the company, which also operates a cargo business, had previously announced it would have to end passenger flights for one month from Dec 15, according to a recent Xinhua report.

OK Air, which became China's first private carrier in 2005, has a fleet of 11 planes and employs 800 people in its passenger flights division.

'The company will use the suspension period for internal adjustments, which will hopefully help make a fresh start for the beginning of next year,' Wang was quoted as saying in a recent Xinhua report.