For struggling businesses, banks generally work co-operatively, even to the extent of forgiving debt. This approach is taken because whilst property, plant & machinery, etc have a value, realising it, other than as on a going concern basis, is very difficult. Better to help the business trade out, than letting them go under.
Because an airline's assets are mobile, and can be re-deployed more readily, there is generally less willingness by banks to forgive debt. Better to simply extricate their assets, sell or lease to new clients, and move on.
Now that is a generalisation.
Clouding the situation in the US is Chapter 11, which was intended as short-term protection against asset owners, giving businesses the chance to re-organise, under less duress, and taking into account interests other than just lenders/financiers.
US Chapter 11 rules are actually envied by many countries, some of which are working towards implementing similar provisions.
Frankly, the US has the greater need for Chapter 11. US banks are the least co-operative when it comes to working collaboratively to allow a client to keep trading, so they can either sort out their problems, or be liquidated in a managed fashion. Where syndicated funding is involved, they often threaten to take unilateral action, unless other members of the syndicate buy them out.
Chapter 11 in the US is good, but is being misused. The longer financial problems are permitted to fester, the more other players, some of whom are in quite reasonable shape, will be affected, and the harder the landing when failures occur.