Air Austral, which is based in the French Indian Ocean territory of La Reunion, is to suspend its two weekly flights to New Caledonia.
The airline says the decision has been prompted by the high cost of jet fuel and will come into effect at the end of March.
An Air Austral Boeing 777 has been linking Noumea with Paris, flying via Sydney and La Reunion since early 2009.
The airline says the move is only a suspension and the service may be restored in the future.
Air Austral says it will at the same time suspend its service to Bangkok.