I don't think it works like that for a publicly traded company. Labor disputes look more like mgmt failure than success.
The first thing Oscar did was extend the United deal with nice raises.
If you were a broker responsible for investing granny's money as a fiduciary you wouldn't buy into a disgruntled company with labor problems.

Indigo is trying to IPO their company and doesn't want to give the pilots its "equity" before the sell, so you have additionally motivated oweners who are trying to "cash out" on your backs.

I think hopefully after the Facebook IPO no reputable bank will touch Frontier to valuate an IPO price until a labor deal is done. Hopefully this sinks in and puts pressure on Indigo. On the other hand, the industry and company are doing well enough tokeep it is as a cash cow with a super good deal on Airbus labor.