A £2 discount voucher is being offered in the local newspaper
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The Jersey Eye is unlikely to make enough money to cover the cost of bringing it to the island.
The 197ft (60m) high observation wheel opened to the public in June and is due to remain until October.
It needs to carry between 20,000 to 35,000 people to cover costs, but it only took 3,500 in its first month.
Edward Mellors, from James Mellor Amusements, said tourists had liked the attraction, but fewer islanders than expected had taken a ride.
The normal cost of a 15-minute trip is £7, but the company has decided to put discount vouchers in the local newspaper giving people £2 off.
The wheel, at Les Jardins de la Mer on the St Helier Waterfront, offers a 360 degree panoramic view of Jersey.
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