I don't think anyone on either side cares if American burns to the ground. Management because they still get paid, and labor because it doesn't seem as though it's a place worth working for anymore.
The bad thing about how skewed the bankruptcy process is against labor is just this. No matter if the company succeeds or fails, most of the management types will see massive payouts and/or bonuses so they're going to run labor's "Titanic" as close as possible, if not into, that iceberg as possible to eek out the biggest win possible.
if they hit the berg, they get paid. If they narrowly miss it, they still get massively paid.