Talks are ongoing to try and establish the best way of making Alderney Airport profitable, the public services minister has said.
The accounts for last year show a deficit of more than £700,000.
Deputy Bernard Flouquet said he was working on the problem but was not optimistic there was an easy solution.
He said: "There seems to be only two ways to reduce costs, which are to revisit reducing opening hours or to increase passenger charges."
He said both options "run the risk of reducing passenger movements and thus further depressing airport revenues".