Perhaps thats because they're better managed than the US airlines and don't follow the boom and bust cycle of overcapacity in the USA? Chapter 11 is a subsidy in everything but name. Sure lots of people would lose their livelihoods if Olympic, Alitalia or Air France went under but if their respective governments give them bridging loans, credit notes or free insurance cover it's called a subsidy. If you get the same in the US it's called Chapter 11. Hypocrisy?