The paper relates to study of unstable oscillations due to a low-pressure axial compressor blade flutter. As informative parameters, which determine the time-evolving unstable oscillations of a relatively stable frequency spectrum, just damping ratios related to the blade natural frequencies are in use. As the oscillation record signal-to noise ratio decreases, an error in determining the blade natural frequencies is lower than an error in determining respective damping ratios. As shown, linear pre-filtering the unstable oscillation records, their decimating, and noise-reducing by the Discrete Stationary Wavelet Transform with thresholding wavelet coefficients provides that the damping ratios determined by the