Two experienced aviation consultants have been appointed to review Aurigny's ability to fly its schedule and assess its transition to an all ATR regional fleet.
The States Trading Supervisory Board called for the review after weeks of flight disruption this summer, as Aurigny struggled to fly its schedule.
Aurigny has had similar reliability issues for a large part of 2024.
The airline has blamed this on a shortage of suitable lease aircraft and spares for its ATRs.
It no longer uses the services of two lease operators after one aircraft ran off the runway while another is being investigated for breaching minimum altitude guidelines for approaching Guernsey airport in fog.
The PA Consulting Group has been selected to carry out the review, at a cost of around £65,000 and STSB say it is expected to take just weeks.
Former BA chief pilot Captain Doug Brown has 40 years of industry experience flying large aircraft and managing the airline's Boeing fleet.
He is joined by another former BA colleague, Mark Elliott, who has decades of experience in airline accounting and finance.
Together, STSB say they have amassed 75 years of aviation industry expertise.
They will examine Aurigny's plan for transitioning from a mixed fleet of ATRs and an Embraer jet to an all ATR operation for UK and European regional routes.
They will also look at the airline's resilience and ability to operate both its lifeline Gatwick and Southampton services as well as its other routes.
Aurigny's CEO and board have said they will willingly cooperate with the review, which should be ready later this year.

The Red Arrows pull out of performing over Guernsey
Guernsey's Ladies' Pool reopens after pollution incident
Passengers at Guernsey Airport told to expect some flight disruption
Guernsey flights impacted by UK air traffic control issue
Engine fault sees private jet diverted to Guernsey Airport
Travel issues ahead of Channel Islands Pride
WATCH: Car 'sails' from Guernsey to Sark
Guernsey donates to Nepali disaster relief effort