Air cargo carrier Evergreen International of McMinnville was supposed to close Saturday but remained open as of Monday.
Chairman Mike Hines of the airline's parent company told The Oregonian that managers were trying to save the company.
He wouldn't say by what means. He said only that, as he put it: "Everything's still status quo."
Evergreen is a major employer in McMinnville and notified the state last month it would lay off its 131 workers and go out of business Nov. 30.
But later that day, Evergreen founder and owner Delford Smith issued a statement saying the airline was exploring alternatives.
Smith acknowledged the business was hurt by decreased military spending and global economic weakness.
The company is hobbled by debt and creditor lawsuits and has been selling assets.