A huge airport in central Spain that cost one billion euros ($1.4 billion) to build but has not received a commercial flight since 2011 went up for auction on Monday for just 100 million euros.

With a runway long enough to land an Airbus 380, the world’s largest airliner, and a capacity to handle 10 million passengers per year, the airport at Ciudad Real, some 200 kilometres (100 miles) south of Madrid, has become a symbol of Spain’s real-estate bubble.

Spain's first private international airport operated its first flight in December 2008 but passenger traffic never took off and CR Aeropuertos, the operator of the terminal, went into bankruptcy in June 2012 with debts of around 300 million euros.

It went up for auction on Monday for a starting price of 100 million euros to meet creditor demands and the bidding will close on December 27, said a spokesman for a commercial court in Ciudad Real which is overseeing its sale said.

Ciudad Real, a city of around 75,000 residents located halfway between Madrid and Cordoba, attracts few visitors and the airport was designed to serve both the Spanish capital and the Andalusian coast which are both less than an hour away by high-speed rail.

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