Aer Arann is to suspend services on the Dublin-Belfast route from next Monday.
The airline said it had been forced to take the action by 'consistently low' passenger figures on the route.
Aer Arann said it would be monitoring market conditions over the coming months to assess whether a commercially viable service could be reinstated in the long-term.
The service began only in June, when Aer Arann said it hoped to carry over 40,000 passengers a year on the route.