MCO Flyer
Simple answer - No.
Indeed the US airlines have used their bankruptcy protection in the past to effectively walk away from their debt and slash their costs. They they undercut the airlines that have not been so mismanaged as to end up insolvent and distort the market massively. The EU view this sort of behaviour as unair competition and do not allow it.
Those airlines in Europe that have gone bust and reappeared - like Swiss and the rump of Sabena are mere shadows of their former selves, they retain something of the livery and a few aircraft but have essentially been gutted.