It's so interesting--the recent generation of EK execs prided themselves on being able to stay "ahead of the curve". What that meant was they were able to cut the traditional business (film/paper) faster than the market shrank. Thus, a profitable business stayed profitable, despite a steeply negative revenue profile.
The company as a whole is unable to do this, BECAUSE THE DIGITAL BUSINESSES ARE NOT PROFITABLE. Chapter 7 is the best solution for everybody, except AP and his band of thieves.