Kerry Airport made an after-tax loss of €44,803 in the year to the end of December 2011, mainly due to the discontinuation of several routes.
This compared with a surplus of €326,785 for the 14 months to the end of December 2010.
Passenger numbers at the airport fell 19 per cent to 319,905 in the year due to the loss of three daily services between Kerry and Dublin and the loss of routes to the UK and Germany.
Revenues fell 40 per cent, from €7.5 million to €4.5 million. However, administration costs were reduced by 35 per cent to €3.75 million due to major cost-cutting measures.
Airport chairman Denis Cregan said: “The year was a difficult one by any standards and a number of events outside of our control resulted in serious disruption to our business for the period in question.”