The airline Citywing has gone into liquidation, with all routes flown by the company having ceased with immediate effect.
The business – founded in 2012 – had been based at Isle of Man Airport and offered flights between the island and Belfast.
Services also ran to UK destinations such as Gloucester, Glasgow, Newcastle and Blackpool.
The firm was given a boost a little over 12 months ago, when it was awarded the contract to run a service between Cardiff and Anglesey.
But in recent weeks the business had struggled, acknowledging that it had found it difficult to find suitable aircraft to fly its routes, after the Czech airline Van Air (which operated services on Citywing’s behalf) had lost its route licences last month.
The Civil Aviation Authority had taken action after one flight from the Isle of Man had to turn back during Storm Doris.
In a statement this week, the airline said: “It is…with much sadness and deep regret that the directors of Citywing Aviation Services Limited have had to take the difficult decision to close the company today and put the company into liquidation.
“The company has tried to offer a service whilst suffering considerable losses but these have proved unfortunately to be commercially unsustainable.
“This decision has not been taken lightly and has been made to protect creditors.”
The firm has advised customers who had previously booked flights not to turn up at airports.
It has already been confirmed that a deal has been struck for Eastern Airways to take over the Cardiff to Anglesey service