Shannon Airport Authority is in talks with three airlines over the possibility of securing a Shannon-Heathrow route or a slot in a major international airport.
The group has held discussions with BMI, British Airways and Cityjet in recent days, although officials cautioned that these talks were still at an early stages.
An official said the focus of the talks was on securing greater international connectivity for the airport before Aer Lingus withdraws its Shannon-Heathrow route in January.
Aviation experts, however, say it is unlikely the airlines will switch a lucrative Heathrow route to Shannon.
Next week's Cabinet meeting - the first since the summer break - is to focus on how to promote greater connectivity for Shannon and regional development in the mid-west.
A spokeswoman for Minister for Transport Noel Dempsey said he would bring a memorandum to the Cabinet setting out recent events and possible options for the Government.
His Cabinet colleague, Limerick-based Minister for Defence Willie O'Dea, said issues such as the planned egm of Aer Lingus on the matter were not top of the agenda.
"The focus is on alternatives to Aer Lingus for Shannon. Connectivity is vital. I've talked to more chief executives and financial controllers of companies than anyone else in the region on this matter and its absolutely critical," he said.
"The egm is a matter of last resort, and I don't think it will come to pass.
"I think the issue may be resolved by then in finding an alternative. I am confident that will be the case."
The Government has declined to support Ryanair's request for an egm of Aer Lingus shareholders aimed at reversing the airline's decision to axe the Shannon-Heathrow route. Instead, it has said it will note any motion put forward before a meeting.
An inter-departmental report commissioned by Taoiseach Bertie Ahern is unlikely to be completed in time for next Wednesday's meeting.
The report is examining issues such as connectivity to Shannon, the likely impact of the loss of the Shannon-Heathrow route and regional development in the mid-west.
Meanwhile, a briefing note circulated to Fianna Fáil representatives in recent days points out that passenger numbers to the airport have been decreasing in recent years.
It says passenger numbers have fallen by 11 per cent on the Shannon-Heathrow route over the past three years, and that the number of destinations that connecting passengers from Shannon used out of Heathrow has decreased by 30 per cent over past three years.
The document also points that 75 per cent of traffic from Shannon to Heathrow is point-to- point, while Shannon is connected to Gatwick, Stansted and Luton, servicing over 440 destinations. The document states: "Shannon is well connected to London."
On the economic impact of the Aer Lingus decision, the document states: "The four slots into Heathrow from Shannon, while important, are not the mid-west's only link to important airport hubs. The focus must be to protect international connectivity.
"From Malin Head to Waterford, Ireland has seven airports with direct services to London, and they are Derry, Knock, Galway, Shannon, Kerry, Cork and Waterford."
On the impact on tourism, the document says "only between 4 per cent to 10 per cent of all American tourists who visit Ireland transit through Heathrow".