Why don't the pilots who are owed all this money in unpaid bonds play ML at his own game?
Get a good lawyer, put a lien on two of his planes, and start your own airline. Other businesses are run as cooperatives, and many have been formed out of the ashes of former bancrupt companies that owed money to the employees.
The advantage to this is 1) It puts the employees in the driver's seat, and 2) The public would bring their business to a co-op that was employee owned. Nobody is going to trust their money to a recusitated Jetsgo.
Get organised, guys. Don't listen to promises. Take control.
Just a thought.
Cheers