Douglas Parker is the most experienced Airline CEO when it comes to chapter 11.
That's correct, he got on at AWA just after they exited Chapter 11, did the US Airways / AWA merger in Chapter 11 and then did the largest merger in history between US Airways and American. He is very comfortable in the Chapter 11 process and his team is very experienced.
I think he could file in a heart-beat. He will file early, while the company has ample cash, his biggest problem will be explaining away the stock buybacks. No matter what he and his lead team members will land on their feet. Rank and file, I am not so sure.