The Weston Air Show has been cancelled for 2023 due to the cost of living crisis.
North Somerset Council says it made the decision following a difficult financial year and extremely challenging budget decisions.
It says the cost of the festival has increased year on year and now requires £135,000 from council tax payers.
Despite the event being cancelled, the council says they are open to suggestions for new events and activities for visitors and residents.
A spokesperson for the authority said: "As a council, we are facing some extremely challenging budget decisions for the financial year ahead and dealing with the same inflationary pressures as all our residents.
"The costs of organising Weston Air Festival have increased year on year and it now requires a £135,000 subsidy from council taxpayers which we don't feel is reasonable at a time of cost of living pressures on our budgets and those of households.
"Therefore the air show won’t be taking place in 2023.
"We're always open to new events and activities for visitors and residents, but we are unfortunately no longer in a position to subsidise these routinely at the expense of council taxpayers."
Some residents praised the decision, with one person commenting on the council's post on Facebook to say: "I agree with this decision in the current climate."
Another added: "It was good whilst it lasted, but priorities are priorities, thank you NSC for making the tough decisions for us."
Others were upset to hear the news, saying: "I don't know what to say. I am extremely saddened by this news. An event I look forward to as much as I do Weston Carnival."
Whilst another said he was "absolutely gutted" but added he "will have some good memories of the Red Arrows, Typhoon and the Vulcan - what a noise that was".