Flybe has declined to comment on media reports that the airline is in crisis talks in an attempt to put together a rescue deal.
According to Sky News, Flybe, which has already been bailed out once, has been struggling to secure fresh finance.
All of the airline’s flights are currently operating as normal.
It said it was focusing on “providing great service and connectivity for our customers, to ensure that they can continue to travel as planned”.
Flybe, the UK’s biggest regional carrier, added: “We don’t comment on rumour or speculation.”
The reports come a year after Flybe was brought for £2.8m by a consortium including Virgin Atlantic and Stobart Group.
Since then, the consortium has invested tens of millions of pounds in the troubled carrier, but losses have continued to mount.
Tourism adviser and researcher Prof Annette Pritchard, of the Welsh Centre for Tourism Research in Cardiff, commented on Twitter that Flybe provided “a vital social and cultural link for many marginal economies”.
Based in Exeter, Flybe carries about eight million passengers a year from airports such as Southampton, Cardiff and Aberdeen, to the UK and Europe.
Its network of routes includes more than half of UK domestic flights outside London.
If the business collapses, more than 2,000 jobs are likely to go.
Matthew Mills, a graphic designer based in Shropshire, recently booked flights for his family to Germany with Flybe.
He is also one of the 10,000 consumers still waiting to receive a refund from collapsed travel firm Thomas Cook on a holiday that was meant to take place in November.
“You don’t know whether to laugh or cry,” he told. “We’ve used Flybe quite a bit in the past because we have family in Germany and we don’t have many alternatives in the UK – if Flybe goes under, we’d be looking at 50% more in prices on flights to Germany, easily.”
Worried Flybe customers have taken to Twitter to express their concerns, saying they are still waiting for information on whether their flights will go ahead.