Flybe has been offered a lifeline from the government following rescue talks to avert collapse.
A deal has been agreed which will see its outstanding £106 million air passenger duty bill deferred into until the spring, helping it to get through a winter cash-flow crisis.
The company's owners are also understood to have promised the investment of more than £20 million, the Mirror reports.
Business Secretary Andrea Leadsom said the deal would keep the company operating.
"I am delighted that we have managed to reach an agreement with Flybe shareholders to keep the company in operation, ensuring that regions across the country can continue to be connected," she said.
"We will continue to work with Flybe and regional operators to find a sustainable long term future.”
The news comes as a relief to many of the 8 million passengers who use the airline each year.
But others are wondering whether it's safe to book with the operator going forward, particularly in the wake of Thomas Cook's collapse late last year.
Following the news it would be rescued on Tuesday night, the airline tweeted: "We are delighted with the support received from the Government & the positive outcome for our people, our customers and the UK.
"Flybe remains committed to providing exceptional air connectivity for the UK regions with the full support of its shareholders."
Its website continues to trade and the airline said it's operating as normal.
However, there are a number of way to ensure you're protected, in case circumstances change.
If you're booking a flight, make sure you have the right travel insurance to cover you.
In this case, you may want to check the fine print to find coverage which protects against supplier disruption and cancellations due to collapse.
If you've booked a package holiday through a UK travel agent, you're most likely covered by the ATOL protection scheme.
This scheme makes the travel firm responsible for arranging alternative flights or providing a full refund.
If you've bought or are buying a flight yourself, and don't want to spring for insurance, be sure it's paid for on a credit card.
If you book on a credit card and an airline collapses, you'll be able to recover your money, in full, under the Consumer Credit Act using Section 75.
For flights which cost less than £100 or are booked using a debit card, the Visa/MasterCard/Amex chargeback system can potentially be used to recover the money paid.
