Chapter 11 is not so much a bailout as a heat shield. The concern is allowed to continue trading and reorganize and renegotiate terms with banks, vendors, etc. while protected from creditors, e.g. ignoring its bills. AA, DL, US, NW, F9, CO, and UA have all filed Chapter 11 at one time or another, but kept operating as usual. United remained in bankruptcy protection from December 2002 to February 2006, more than three years, a feat regarded by most as a spectacular, flagrant abuse of the law. Chapter 11 is supposed to confer a little breathing room, not become a way of life.

Other US carriers that went bankrupt and ceased operations, e.g. dropped dead, include Braniff, Eastern ATA, the first Frontier, Aloha, the second National, Midway, Skybus, and many more... not including distressed carriers like Pan Am and TWA that were on the verge of shutting down when acquired.