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The company running Plymouth City Airport has announced it intends to close the operation in December.
The Sutton Harbour Group says £1 million a year losses, the wider economic downturn and the ending of the London Gatwick route in February have combined to make the profitable running of the airport impossible.
Annual departing passenger numbers have dipped to below 30,000 - that's less than 100 a day.
The Group, which owns the airport leasehold, has worked closely with the freeholder Plymouth City Council and the Chamber of Commerce over the past few months to find a solution to secure the future of the airport, but they've now reached the end of the road.
Almost 60 jobs will be lost, although, it's understood Exeter Airport may be offering work to some of the staff.
The Devon and Cornwall Business Council wants the airport mothballed - not redeveloped - until economic and aviation circumstances are more favourable.