Plymouth-based Air Southwest has announced that it will cease operations by the end of September.
The airline had previously planned to continue operations, despite the already announced closure of Plymouth City Airport.
It has cited low demand as the reason for the closure.
Flights from Newquay to Glasgow, Guernsey, Jersey and Manchester as well as all Plymouth services will end on 14th September. The rest of the airline's operations will close down by 30th September.
Air Southwest was launched by Sutton Harbour Holdings, the owner of Plymouth airport, in 2003. It was subsequently acquired by Eastern Airways in November 2010.