Blackpool International Airport will close on 15 October, as "no agreement has been reached to secure the future of operations".
The regional airport for Lancashire and the Lake District has been on the market since August. Balfour Beatty announced in September the 7 October deadline to reach a deal, after supporting losses from the airport for a number of years.
In a statement on the airport website, passengers were recommended to contact their airlines to confirm travel arrangements.
Jet2, Aer Lingus Regional and Citywing are the three airlines which fly from Blackpool. Jet2 will be transferring its Blackpool flights to Manchester from Friday 10 October. Citywing said this morning that customers affected by the closure would be contacted, while Aer Lingus is yet to announce its plans.
The Blackpool Airport statement said: "We regret to announce that no agreement has been reached to secure the future of operations at Blackpool Airport. The airport operation has been making a loss for a number of years and unfortunately there is no option for the company other than to close.
"This is a very sad day for the airport which has a proud aviation history and a loyal, appreciative customer following. We would like to thank all our dedicated staff who have delivered exceptional service to passengers for many years.
"The airport will remain open to the public until 15 October 2014 and we will endeavour to maintain operations as normal until this date, after which time commercial flights will cease."
A spokesperson for Balfour Beatty said: "Balfour Beatty remains the owner of the Blackpool Airport site and will continue to work with the independent aviation businesses currently operating from Blackpool to develop a sustainable future for aviation services. We will also support the airport and local councils who are working together to develop regeneration plans for the area, which are designed to generate future employment and sustainable economic development opportunities for Blackpool and the Fylde."