Flybe is facing fresh doubts over its future after failing to secure a £100 million loan.
The struggling airline was saved from collapse earlier this year by a consortium including Carlisle-headquartered Stobart Group, but has been unable to obtain the finance from the Government.
People briefed on the regional carrier's situation told the Financial Times that the company only has enough resources to survive "until the end of this month".
Flybe has been hit by a slump in bookings since the outbreak of the coronavirus.
As part of the January rescue deal, it agreed an arrangement to defer tax payments of "less than £10 million" with HM Revenue and Customs.
Ministers also agreed to hold a review into Air Passenger Duty (APD).
The structure of APD - which adds £26 to the price of most return domestic flights such as those operated by Flybe - could be altered in next week's Budget.
Flybe serves around 170 destinations and has a major presence at UK airports such as Aberdeen, Belfast City, Manchester and Southampton. It flies the most UK domestic routes between airports outside London.
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.
It was bought by a consortium comprising Stobart Group, Virgin Atlantic and Cyrus Capital in February 2019, but has continued to make losses.
A Flybe spokesman would not comment on its financial situation.
At the time of Flybe's rescue, rival airlines complained that they should not be penalised for their own success and should also be given a tax holiday.
British Airways owner International Airlines Group claimed the arrangements breached state aid rules.
The Unite union’s assistant general secretary Diana Holland urged the Government to step in to “keep Flybe flying”.
“Many of Flybe’s routes are unique, the passengers who use those routes and the communities that Flybe serves must not be abandoned,” she said.
“The Government would be wholly negligent to allow Flybe to fall into administration, rather than demonstrating it has learned the lessons from Monarch and Thomas Cook, and implementing the airline insolvency review.
“Unite is seeking an urgent meeting with Department for Transport ministers to discuss Flybe’s future.”
A Department for Transport spokeswoman said: "We won't comment on speculation."
Downing Street also refused to comment on Flybe's situation because it was a “commercially sensitive” matter.
But they added: “We are firmly committed to promoting and safeguarding regional growth and connections."
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here