Everyone just needs to stop and take a deep breath...
QF has just announced an expectation of an operating loss. It is not like they are not trading insolvent. The fact is the they are far from it! This is mostly just a show brought in by VA's announcement of a capital raising, to garner whatever government support they can either financially or legally. The process of restructure is continuing and would have continued regardless of VA's announcement or not.
Plenty of companies trade at a loss for periods short and long and airlines are no different. SOPS is correct that that it is easy to burn through $2B quickly in a capital intensive business, but there are many levers that management will pull to avoid that. Sale of assets, decreased depreciation etc.
The sky is not falling in just yet.