Gloucestershire Airport has asked two councils for what appears to be a six-figure "bail out", the BBC has learned.
The airport at Staverton, between Gloucester and Cheltenham, is part-owned by Gloucester City Council and Cheltenham Borough Council.
Emergency meetings to discuss the loan are due to take place at both local authorities next week.
A council source told BBC Radio Gloucestershire the loan could be as much as £750,000.
The airport first opened in the 1930s and now handles about 80,000 flights a year.
It is home to more than 180 aircraft and 50 staff, and supports more than 40 on-site businesses which provide 1,000 jobs.
In a statement, Gloucestershire Airport said it is "considering a number of options to help deliver its business plan".
It continued: "One of these has been a request to its shareholders for a loan facility that will be used to help grow the business even further."
Gloucester City Council confirmed an emergency meeting has been arranged to deal with an "urgent treasury management issue".