here's a thought, don't buy it. Most companies' stock is completely wiped out to zero in a bk. Why would they not start all over like all the other airlines did with a IPO?
I've never participated in a merge, especially during bankruptcy. I'm going to sell most during exit, but keep a few shares to see how the 10 to 1 translates. I'm curious and it will be good "real life" experience.