An alternative bid to run Aurigny's services into and out of Alderney is being put to the States of Guernsey.
Currently Blue Islands is in negotiations about purchasing the States-owned airline.
Ray Bowyer, an Alderney resident and former Aurigny captain, said he wanted to ensure the safety of the lifeline links to Guernsey and Southampton.
He said he wanted the company split so he could take on the Trislander side of the business.
Blue Islands has previously committed to maintaining the Trislander routes.
Mr Bowyer said: "Without this service business would cease to exist. The Alderney people are absolutely reliant on an air link, there is no ferry as such to the extent that Sark has a ferry.
"Without it I think from the difficult financial situation that Alderney's in at the moment it could possibly lead to the collapse of the economy.
"I'm gauging public reaction at the moment, I think there's a lot of support especially in Alderney.
"It's where it [the airline] all started and they have been put on the back burner for many years and now I think they need to be put in the forefront."
He said moving forward he needed to find out if there was the political will in Guernsey to split the company.