Viva Air Colombia will exit Panama Pacifico airport in Panama City, citing high airport costs as the reason.
The Medellin-based airline says it will cancel its flights from Bogota and Medellin on 20 May.
Viva Air Colombia flies four-times-weekly on both routes, FlightGlobal schedules data show. It launched flights to Panama Pacifico in August 2014, adding the airport's first commercial flights.
But its status as the airport's only airline ended in June 2017, when Copa Airlines' low-cost affiliate Wingo entered Panama Pacifico with service that competed directly against Viva Air Colombia's routes to Bogota and Medellin. Wingo is also operating from Panama Pacifico to Cali and Cartagena.
Panama City Pacifico is about 40km (25 miles) from the city's main airport, Tocumen.
Viva Air Colombia's exit from Panama will leave Air Panama, Avianca and Copa serving Panama City from Bogota and Medellin, FlightGlobal schedules data show. Air Panama operates from Panama Albrook to the two Colombian cities. Aside from the Wingo flights at Pacifico, Copa serves Bogota and Medellin from Tocumen.
Avianca operates from Bogota to Tocumen.