General Motors Corp chief executive Fritz Henderson says a bankruptcy filing is "probable" because of the restructuring goals GM must meet to get more US government loans, but that isn't the company's preferred option. In a conference call with reporters on Friday, Henderson said GM was working on two parallel plans: one that involves bankruptcy and one that doesn't. "Contingency planning is under way," he says. "We are on several tracks." Henderson also said GM would need more government aid sometime in the second quarter, although the timing had yet to be decided. In its viability plan filed on February 17, the company said it would need $US4.6 billion ($A6.4 billion) in the quarter, and that hadn't changed, he said. "At this point, it would be premature to say that there has been an approval for further funding, at least from a GM perspective."