Mexicana is coming under pressure from creditors after failing to meet debt obligations, including some aircraft lease payments.

According to several sources with close ties to Mexican aviation, the carrier has struggled to recover the economic downturn and the dramatic effects on demand caused by the H1N1 influenza scare in early 2009.

The full state of Mexicana’s predicament is unclear as the company is privately owned and does not have to release financial data publicly. However, according to several sources, creditors have questioned data Mexicana must provide lenders, while others note that debt payments have been missed.

Aircraft lease payments are one of the main concerns, according to several sources, although opinion is divided as to the status of these payments. Some think the contracts may be defaulted, while others hold that the payments are just late.

One source also says Mexicana is considering a court-protected debt restructuring, while another says a review of the carrier’s financial health will not come until after the peak summer season.

Mexicana in a statement to The DAILY acknowledges that Mexico’s economy has been adversely affected by H1N1 and the global economic downturn.

“Nobody doubts that after the terrible aftermath of the sanitary crisis in Mexico all airlines are under tremendous pressure. This is augmented by the fact that the economic recovery is slow and has still to trickle down to the services and tourism industries,” a spokesman says in the statement.

“However, I would like to inform you we are having a good summer season, [a] typically high season for airlines in Mexico,” he continues, adding, “At Mexicana we are working very hard to surpass the difficult moments the industry is experiencing.”