Flybe is facing fresh doubts over its future after being hit by a slump in bookings since the coronavirus outbreak.
The struggling airline was thought to have been saved from collapse earlier this year but has been unable to obtain a £100m loan from the UK Government.
The Financial Times quoted a source saying it only had enough resources to survive “until the end of this month”.
As part of the January rescue deal, it agreed an arrangement to defer tax payments of “less than £10m” with HM Revenue and Customs.
Flybe serves around 170 destinations and operates from a number of Scottish airports, including Glasgow, Edinburgh and Aberdeen.
A series of issues have affected the airline’s finances, including rising fuel costs, falling demand, competition from road, rail and other airlines, plus a weakening of the pound.
Rival Ryanair has predicted the drop in demand for flights due to the coronavirus will result in some European airlines failing in the coming weeks.
A Flybe spokesman would not comment on its financial situation.
A Department for Transport spokeswoman said: “We won’t comment on speculation.”