A court has upheld a Civil Aviation Authority's decision to suspend Air National's operating certificate.
The authority's director suspended the airline, which flies private charters, for 10 days in January to enable an investigation of its operations.
Air National appealed to the High Court and sought a judicial review of the that decision.
The High Court put a stay on the suspension, allowing Air National to continue to operate until the judicial review was determined.
The director appealed against the High Court's decision. That appeal has been upheld by the Court of Appeal, which has reinstated the suspension.