After a 46-year run, The Royal Canadian Air Farce is saying farewell with their last New Year's Eve special.

Airing December 30 at 8 p.m. (8:30 NT) on CBC and streaming on CBC Gem , the stripped-down special takes aim at the year's events including the Canadian 2019 federal election, Brexit, and the Royal Family.

This year's special will be a bit different since it is "a love letter to our fans," says founder and executive producer, Don Ferguson. It will include clips from some of the most celebrated sketches over the years, and shout-outs to the late Farce founders John Morgan and Roger Abbott, as well as frequent collaborator Dave Broadfoot.

Looking back at New Year's past

"Even though I'm sad it's ending, I'm also very grateful it lasted as long as it did," says Air Farce member Jessica Holmes.

"When you become an actor you sort of think 'I'm going to live on a friend's sofa, and that will be my life.' For me, to get to continue on a series for so long was beyond my wildest dreams."

Jessica Holmes (Air Farce )

When Holmes stepped into the troupe in 2003, she says it fit like a warm glove right away.

"I felt like they were family members. They're the kind of people who, even on TV, they're not intimidating. There's something very good-natured and sweet about them, and that's exactly how they are off-camera as well."

The show served a purpose as a "coping mechanism for a country," says Holmes. When she first joined Air Farce, a writer on the show told her something she would always remember: "Tragedy + time = comedy, and our job is to take the Monday morning headlines and turn them into something we can laugh about."

Holmes says one of her favourite moments in Air Farce was shooting music videos with real production value. In 2017, Air Farce presented a Canadian take on La La Land with 'CANADA: The Musical'.

"That was a career-high, because when else is this middle-aged mom going to be in a music video?" says Holmes.

Holmes will be starring in an upcoming CBC Gem comedy series, The Communist's Daughter.

She says she will continue to use Air Farce's sensibility in her comedy as she tours across Canada giving live mental-health performances at corporate events.

"I think it will hit me [that the show is coming to an end] when I'm watching it with my kids," says Holmes, "because that's when I always get the feeling of how special and moving it is that there's a show that all generations can sit down and watch."

Air Farce's 46 years of political sketch comedy

The Royal Canadian Air Farce comedy troupe debuted on radio back in 1973 with founding members Don Ferguson, Luba Goy, Roger Abbott, John Morgan and Dave Broadfoot.

"It's something we thought we'd do for fun," says Don Ferguson. "We thought someday we'd have to get regular jobs like everyone else, but that never happened."

1979 - Montreal taping with Don Ferguson, Dave Broadfoot, Luba Goy, Roger Abbott, John Morgan (Air Farce Archives)

The troupe grew into a successful franchise. A CBC radio series ran from 1973-1997, setting off national concert tours, live stage productions, home audio and video releases, a book, and several television specials.

"I got paid to find out about Canada, because we had weekly shows on the road," says Ferguson. "We'd walk around Canada's biggest cities, ask questions, and tell local jokes."

A weekly CBC television series ran for 16 successful seasons, from 1993-2008.

1992 - Air Farce invades CBC TV airspace - Don Ferguson, John Morgan, Roger Abbott, Luba Goy.

"It's been a great ride, we laughed a lot at work, and everybody should be so lucky," says Ferguson.