Troubled consultant Erinaceous may lose its £8m lease on Brighton airport at Shoreham-by-Sea, West Sussex.
Erinaceous acquired a 150-year lease on the airport last year from Brighton and Hove and Worthing councils.
Erinaceous had plans for an ambitious redevelopment, including the refurbishment of an art deco terminal building. But it is understood that the councils are reviewing the deal in the light of the firm’s financial problems.
A senior airport source said: “There is obviously an issue about funding any development in light of recent events.”
A spokesperson for Brighton and Hove council said it was monitoring the situation but declined to comment further.