Is this an actual question? I’ll answer it anyway: because they had nothing to do with financial market risk shenanigans and just wanted to get somewhere.

If a customer hasn't taken their flight yet, they are a creditor.

An unsecured creditor which gets paid out after secured creditors.

Being a consumer/customer is different from being a creditor

I’m no expert, but a bit of googling tells us.

The laws around bankruptcy define the priority of who gets paid and in what order:

- Secured Claims

- Unsecured Priority Claims

- Unsecured Non-Priority Claims (General Unsecured)

- Equity Security Interests

Each layer has to be paid in full before the next layer.

Unsecured Priority Claims - this includes customers who have paid for services.

Also with secured claims. What are they secured against? That is what is the collateral defined. If it is not cash... Well they will get their claims when collateral is liquidated.

The customers are creditors.

It is a fair question. Normally customer creditors ends up last in the line.

Aviation has stricter laws when it comes to customers. I don't have citations off the top of my head but it's not a normal customer-business relationship.

EDIT: 14 CFR Part 260.