The owners of Kent's international airport Manston have said that it could close after huge financial losses.
Staff at the airport were told of a 45-day consultation on Wednesday, the BBC reports.
Clive Hart, leader of Thanet District Council, said it was "potentially a devastating blow" to the local economy.
Around 150 jobs are at risk and there are rumours that the site could be used for housing.
A Manston Airport spokesman told Kent Online: "Following a meeting with staff at Manston Airport in Kent today we can confirm we have commenced a process of consultation over the possible orderly closure of the airport.
"No further comment will be made until the consultation period with staff has been concluded."
The news comes after talks held with Ryanair about launching new routes from the airport fell through.
KLM started running a twice-daily flight from Manston in April 2013 and told the Thanet Gazette: "We have no statement at the moment- we are going to wait for the consultation to take place as the situation is currently not in our hands."
Safety fears over South East airport expansion