It has been sealed following the non-payment of fees.
Cosmos Aviation is also said to have operated without a proper licence.
It commenced operations nine years ago.
Meanwhile an investigation is also likely to be launched to probe the Skyline Flight Training School at Ratmalana set up tax-free under the auspices of the Investment Promotion Board.
Skyline Aviation is owned by Romeh de Silva who is said to be a close friend of former President Mahinda Rajapaksa.
There is also the possibility of an air complex situated at the air base at Katukurunda belonging to Romesh de Silva also being sealed.
He has been using the Katukurunda air base on a mere payment of Rs.10,000 to the Air Force for many years.