[jodrellblank]

It JUST means that the creditors lose money? It doesn't stop the planes flying? It doesn't stop the humans and freight from being transported? The plane maintenance? The airport's budget isn't affected, the airline employees aren't affected?

[eru]

Actually, yes: Airlines have a knack for going bankrupt all the time, but still keep flying their planes.

And planes are also fairly fungible: when one airline goes bankrupt, another airline can quickly snatch up the planes and fly them.