Jersey says it may consider closing its aircraft register - after attracting just two aircraft in 16 months.
The news comes after the Isle of Man register won Best Global Aviation Registry in World Commerce Review Magazine's 2017 awards.
The Manx registry has almost 1,000 aircraft on it.
The Jersey register, which aimed to compete with the Isle of Man, cost £800,000 to set up in 2015 but has earned less than £12,000 in fees.
Jersey's Assistant Economic Development Minister Murray Norton says the project may now be scrapped.