Pacific Western Transportation is shutting down the service on Oct. 31.
The airport shuttle had been in service for more than 20 years.
The pending cancellation comes as ridership has dropped by more than a half over the past decade.
Dean Wright, the general manager of Pacific Western Transportation, said the 28 employees who are part of Toronto Airport Express won’t be let go once the service ends.
"We don't expect or anticipate job loss," he said.
Instead, they’ll be assigned to other duties with Pacific Western Transportation.