Helicopter firm CHC is consulting with staff and unions over job losses.
CHC said about 47 UK posts could be affected, with about half of those based in Aberdeen.
The company said the offshore industry, for whom it transports workers to North Sea platforms, continued to face "challenging market conditions".
CHC's Mark Abbey said: "This has been an incredibly difficult decision but it is necessary for us to respond to these conditions."
The posts involved include engineering and flight personnel.
Mr Abbey, CHC's regional director for Europe, Middle East and Africa, said it was trying to "protect the maximum number of jobs possible and safeguard the future of the business".
Pilots' union Balpa said in a statement: "The news of potential job losses at CHC is devastating news for those involved. Balpa is doing all it can to support those affected.
"Coronavirus is having a serious impact on UK aviation and with the price of oil hit hard, the North Sea economy is facing difficult times."