Almost 5 billion in accumulated Net Operating Losses are a hidden asset and true value, especially for a company emerging from CH11. The best way for EK to preserve the value of these NOL's, is to protect current equity (commons) to a level of at least 51% of new company. An astute investor would look at the Feb MOR and add 5 billion dollars to the asset side of the balance sheet. Talk about shareholder equity!!
Blockbuster...? Really..? You must not have been around for that, because you would have remembered that Blockbuster defaulted in CH11 and was heading for a court mandated CH7, which made the preservation of NOL's a moot point. You really should read more, cuz from my perspective, your words sound a lot like a fa_rt in the wind..!