Originally Posted by
pangolin
An argument can be made that the company is based on the certificate.
An airline requires a certificate to operate. Any union contract is between that union and the company. When the company goes away, so does the contract. After the airline is gone if someone were to buy the certificate and start another airline, there would be no obligation to honor previous agreements or hire former employees. In this case it could be that amending the XJT certificate to do what they wanted was more trouble and expense than just starting from scratch.