Is this an actual question? I’ll answer it anyway: because they had nothing to do with financial market risk shenanigans and just wanted to get somewhere.
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You've just decided, all by yourself, that customers are "low priority people." Why?
The law specifies the order people get paid out for a bankruptcy.
Which law? 14 CFR Part 260 requires air carriers to refund tickets on cancelled flights.
https://www.law.cornell.edu/uscode/text/11/507
14 CFR Part 260 I don't see having precedence. It is hard to punish a company that no longer exists.
I think the law is wrong…
Customers are creditors, as they have given money in credit in exchange for a service at a later date.