NEW YORK (CNN/Money) - United Airlines parent UAL Corp. could file for bankruptcy protection in just over two weeks if it can't wrap up its labor talks and federal loan guarantees by then, according to a published report Thursday.

The world's No. 2 airline faces $375 million in aircraft-backed bonds being due Dec. 2. The New York Times quoted UAL CEO Glenn Tilton as saying it needed to wrap up approval of all the details of its turnaround plan by that date to avoid a bankruptcy filing.

The airline warned earlier this year that without labor cost savings and federal loan guarantees of $1.8 billion, it would be forced to seek bankruptcy protections in the fourth quarter, but this is the first time the airline has given a specific deadline.

Tilton said he still hopes to avoid bankruptcy, but said that he believes the airline will survive any bankruptcy filing.

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"It would not be the end of United if we were to do so," the Times quotes Tilton as saying. "We would be flying the next morning."

The airline has won tentative agreements on new labor pacts with two of its largest unions - the Air Line Pilots Association and the Association of Flight Attendants. But talks are continuing with the International Association of Machinists, which represents mechanics and other ground personnel.

Several analysts had said the uncertainty about the chance of winning the necessary labor savings from the unions as well as approval from the Air Transportation Stabilization Board, which is considering the request for federal loan guarantees, makes them believe that a bankruptcy filing is the most likely outcome for the company.

In addition to seeking the labor concessions and loan guarantees, United is also seeking help from various airline alliance partners and suppliers such as Boeing Co. On Thursday United said it had reached an agreement with German carrier Lufthansa that will include revenue sharing and greater cooperation on pricing and scheduling on North Atlantic flights by the two carriers. United said the agreement should increase its revenue by about $90 million annually once the benefits are fully realized.

"This new level of cooperation with Lufthansa is a critical component in United's recovery because of the additional revenue it will generate for both carriers," said the statement from United Senior Vice President Graham Atkinson.

Shares of UAL (UAL: Research, Estimates) lost 2 cents to $3.67 in trading Wednesday.