This is not the same situation. American Airlines was able to present a Chap 11 plan that would make all of the other classes whole, by using bankruptcy to break its high costs and restructure so it could eventually pay off all of the classes higher than the common shares.
That is not the case here. The company will still lose money after the reorganization and there is no way it can make the classes higher in priority whole (bonds and unsecured).
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