Moira Shire, the present owners, began an expressions of interest to lease or buy the publicly-owned areas of the facility late last year.

The council's corporate general Simon Rennie said during this most recent EOI process, council conducted discussions and received feedback from various groups and individuals interested in the aerodrome.

"All these discussions were extremely positive but the EOI process did not produce offers that council could progress," he said.

"The current EOI is now complete and at present, the aerodrome will continue to remain under council ownership.

"Council would like to thank those who participated and feedback received will help development and business opportunities.

"Next steps will be to enhance its use and drive other revenue streams to fund operational costs at the aerodrome."

In 2018, the shire flagged its intention to sell the aerodrome and called for submissions from potential buyers.

Freehold land owners within the aerodrome were encouraged to form a syndicate to purchase the facility and build on their investment in the site.

In March last year, the council kicked off the EOI with only Cr Wendy Buck opposing the move in the hope a management committee could be formed involving airport users.

More than 10 businesses operate from the airport and employ an estimated 40 people in full and part-time roles, but have previously ruled out a co-operative ownership model.