Island authorities and the Manx travel pressure group, Travelwatch, are keeping a watching brief on possible developments with the carrier Flybe.
The Exeter-based airline has announced plans to cut 500 jobs across the business, despite reporting a return to profit.
The company said its turnaround plan was on track to make £40m of savings this year and £45m in 2014-15.
The pilot's union, Balpa, said it was'shocked'.
Brendan O'Friel from Travelwatch says there is no news yet on what effect that may have on routes and whether the Isle of Man's routes could be involved.
Director of Ports, Ann Reynolds, warns it may be weeks before any detail emerges.