People start businesses to make money. Sometimes they do and sometimes the do not. Most people who start businesses invest their savings, mortgage their house, borrow heavily. If the business does well they do well, if the business goes bad they don't do well anymore, though hopefully they will have recouped their start up investment.
When businesses do well, the employees earn a wage and have some security. When businesses do badly, for whatever reason, then the employees can loose their job.
Which would you prefer - no job or a job in the hope that, over time, the company does well, that the economy picks up and that a degree of security may creep in?
Its the same in any business - look at the number of chains that have disappeared over the last few years.
However the airline business seems to be particularly fragile - a look back 20 years or so reveals several airlines disappear, for a variety of reasons, every year, some high profile - Dan Air, Air Europe, XL others less so - Highland, Ambassador, Paramount and so on and so on.
My point is that I consider it wrong to criticise people trying to start and keep a business going which provides jobs for many. Instead we should all be encouraging entrepreneurship.