DoncasterSheffield Airport is closing because of a lack of financial viability.
The airport is owned by the Peel Group.
There were no tangible proposals for the ownership of the airport or for addressing the fundamental lack of financial viability after the strategic review.
Peel Group blamed high fixed costs and a lack of a break-even business plan for the decision to close the airport.
It said that it would work closely with airport customers and other users to explain the impact of the service reduction.
South Yorkshire politicians offered public money to keep DSA going.
Peel Group said it was in contact with union representatives at the airport.
Local politicians launched an appeal to keep the site open in the summer after Wizz Air pulled out.
Steven Underwood, the chief executive of the Peel Group, said that it would be difficult to hear about the decision to close the airport.
Although change can bring uncertainty, it can also bring significant opportunity.
Accepting funds from the South Yorkshire Mayoral Combined Authority would delay the inevitable for another 13 months, but it would divert funds away from services which communities throughout South Yorkshire depend on.
The Chairman of the Peel Airports Group acknowledged that this would be a great disappointment. DSA is indebted to its employees for their dedication and diligence over the years. Over the next few weeks, the priority is to engage closely with them.
DSA will start a process of consulting with team members.
We will do everything we can to minimize the impact of these proposals and work closely with local authorities and agencies to support our employees.
We are committed to making sure union representatives are updated through every step of this next phase, and we have remained in contact with them throughout.
"My heart goes out to staff at DoncasterSheffield Airport, with hundreds of jobs now at risk due to this unfortunate announcement, and to those local people who have lost their airport on Peel."
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