Newquay Airport is continuing to haemorrhage passengers, according to the latest numbers, and now questions have been raised over the future of direct Gatwick flights.

Passengers numbers have fallen for a fifth year in a row, to 174,000 passengers. The number of passengers using the airport has fallen from 431,000 in 2008/9.

The airport has been hit by RyanAir and Air Southwest pulling out of flights at the airport in 2011.

Ryanair left in protest at a £5 "Airport Development Fee".

BMI Baby, which also offered services from the airport went bust last year.

Now Flybe will end direct Newquay-to-Gatwick flights from March 2014 after the company sold its slots to Easyjet for £20m. A move called "devastating" by Cornwall's Chamber of Commerce.

Managing director of Flybe's outsourcing solutions, Mike Rutter, said: "Newquay Airport has been a challenged model for some time.

"With little airport business, unless there is a change to a publicly-supported model, I think as it currently stands there is little future for Newquay Airport.

"Larger operators like Ryanair and Easyjet can provide a single daily service... whether that works for the economic needs of Newquay, I doubt it."

There is no disruption expected to the current three daily flights to Gatwick or the other services operated by Flybe in the 2013-14 schedule. Flybe will continue their normal operations until March 29, 2014.

It has not been confirmed that the Gatwick flights will continue under EasyJet.

The company will run flights between Newquay and London Southend in June, and said it would review the routes, but that it was under no obligation on it to maintain them.

Cornish taxpayers provide a subsidy in excess of £3million to keep the loss making airport running.

Cornwall Council claims the subsidy is justified as the airport brings millions of pounds into Cornwall

Al Titterington, the airport's managing director, told the BBC that the numbers would improve and that "discussions with more airlines to introduce more routes", were underway.

He told the BBC: "For the financial year of 2013/14 passengers numbers will increase to a forecast of about 186,000 and will grow year on year. We're pretty confident we'll be around that."

In January last year Mr Titterington received an annual pay rise of £56,000, from £69,000 to £125,000. However this was due to an increase in his responsibilities to include new roles of finance management, administration and commercialisation of the airport.