Opera Lyra in Ottawa said it is cancelling its remaining two productions this season because of financial problems.

The opera company was scheduled to put on The Flying Dutchman in February and Tosca in March but is cancelling the productions.

The company said it is "reorganizing its operations to emerge in a stronger financial position next season."

Opera Lyra said it will return for its 28th season in September next year with a production of La Bohème.

Ticket holders will be contacted in the next two weeks by mail with details about their options, including ticket exchanges and refunds, the company said.

"Since the economic downturn in 2008, we have had three consecutive years of severe financial challenges and simply do not have the funds available for these two productions," said Malcolm McCulloch, the chair of Opera Lyra's board of directors, in a statement.

"Opera Lyra is acknowledged as one of Canada's foremost opera companies but our subscriptions, single-ticket sales and private sponsorships have nevertheless declined significantly."