Aer Lingus is considering using Belfast as a new base from which to launch short-haul services.
The city is believed to be one of five in the UK under consideration as a new hub for the low-fares airline, which currently has planes based in Dublin and Cork.
A decision is likely to be made within three months, and services could begin next January.
Whichever base is chosen, Aer Lingus plans to open routes to the UK and continental Europe. Any new services would typically be of more than two hours' duration.
Informed sources said Aer Lingus was considering both Belfast International Airport and George Best Belfast City Airport, which is owned by Ferrovial of Spain.
Belfast International, which is owned by ACDL and handles five million passengers a year, is the bigger of the two and thought more likely to be chosen by the airline should it choose the city.
Aer Lingus previously ran services from Belfast, via Shannon, to Baltimore in the US. This route ceased about five years ago.
Aer Lingus will take delivery of two new A320 aircraft in December, and is keen to base them outside the State in a bid to expand its services. These planes have 174 seats, making them suitable for short-haul services.
Aer Lingus has ruled out basing aircraft at Heathrow in London due to the high costs involved in flying from there.
Edinburgh, Glasgow, Newcastle and Bristol are all thought to have been considered, although it is not clear if they have made the shortlist.