Mexicana, a major Mexican carrier, sought bankruptcy protection in Mexican and US courts as it seeks to continue operating while restructuring, with creditors at bay, the company announced on Tuesday.

Currently Mexico’s second largest airline, Mexicana said it was hoping to reach a restructuring deal without having to disrupt day-to-day operations.

“This is neither bankruptcy (per se) nor a suspension ofpayments,” but rather a request for time to achieve the restructuring, a spokesman told AFP.