Originally Posted by
ImSoSuss
There very well could be a sudden announcement that today is the last day and all future flights are canceled. It has happened before. Any remaining cash will be paid to the employees first.
No this is not true. They become a creditor just like anyone one. The secured notes are paid first, then employees up to a maximum amount of money per employee. Until the "senior secured notes" are fully repaid (about $2B) no employee wages would be paid.
CH7 would be bad for employees.