Bearskin Airlines is cancelling all scheduled trips between the Region of Waterloo International Airport and Ottawa, saying the service is not economically viable.

"It's part of a broader decision to restructure the size of our company and refocus on our core markets, which continue to be viable and terminate service to markets, which are no longer viable," Ron Hell, the director of marketing sales for Bearskin Airlines, told CBC News Tuesday.

"Demand for the service has been relatively stable," he said. "Unfortunately, we just haven't been able to charge the fares that we need to cover our cost to operate in that market at least." 

Bearskin Airlines has six flights that fly the route on weekdays, three leaving from Ottawa and three from Waterloo Region. In addition, there's one round-trip flight on Sunday but no flights Saturday.

That leaves WestJet, SunWing and American Airlines' regional affiliate American Eagle flying out of the Region of Waterloo International Airport.

WestJet flies to Calgary and offers connections to other western cities, while American Airlines flies to Chicago on a route subsidized by the Region of Waterloo. Sunwing flies to Cancun on a limited schedule - the last flight was March 17, 2014 and service will resume later in the year.

The cancellation of Bearskin Airlines service comes after the Region of Waterloo airport saw a record 138,733 passengers travel through its terminal last year, a 15 per cent increase from 2012. The airport also said that airplane movements (takeoffs and landings) were at a 10-year high, and up 3.2 per cent from 2012. 

Passengers who have booked tickets from April 1 onward can obtain full refunds by calling Bearskin Airlines at 807-474-2624 or contacting their travel agency.