Studies have shown that significant vehicle mass and cost savings are possible with the use of ballutes for aero-capture. Through NASA's In-Space Propulsion program, a preliminary examination of ballute sensitivity to geometry and Reynolds number was conducted, and a single-pass coupling between an aero code and a finite element solver was used to assess the static aeroelastic effects. There remain, however, a variety of open questions regarding the dynamic aeroelastic stability of membrane structures for aero-capture, with the primary challenge being the prediction of the membrane flutter onset. The purpose of this paper is to describe and begin addressing these issues. The paper includes a review of the literature associated with the structural analysis of membranes and membrane utter. Flow/structure analysis coupling and hypersonic flow solver options are also discussed. An approach is proposed for tackling this problem that starts with a relatively simple geometry and develops and evaluates analysis methods and procedures. This preliminary study considers a computationally manageable 2-dimensional problem. The membrane structural models used in the paper include a nonlinear finite-difference model for static and dynamic analysis and a NASTRAN finite element membrane model for nonlinear static and linear normal modes analysis. Both structural models are coupled with a structured compressible flow solver for static aeroelastic analysis. For dynamic aeroelastic analyses, the NASTRAN normal modes are used in the structured compressible flow solver and 3rd order piston theories were used with the finite difference membrane model to simulate utter onset. Results from the various static and dynamic aeroelastic analyses are compared.