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 mainly due to the loss of three daily services between Kerry and Dublin and the loss of international 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 from €5.8 million to €3.75 million due to major cost cutting measures including cutbacks in staff numbers and operating hours.
Denis Cregan, chairman of Kerry Airport, said: "The year was a difficult one by any standard and a number of events outside of our control resulted in serious disruption to our business or the period in question. However, we continue to be optimistic and one of our primary aims going forward will be to increase inward traffic to the Region".