Currently, you cannot go bankrupt in the game. If you have scheduled payments for aircraft or gates your money will just go into the negatives. That being said, you cannot spend money you don't have.
For the example you gave, the cheapest you can get an A332 is $93,520,000.00 with a 40% downpayment. So yes you could buy a new A332 and have roughly $500k left over.
In the future, once the game officially starts, you will not be allowed to go very far into debt without having it affecting your credit rating. If you don't have enough money to pay for the remaining portion of the aircraft for instance, delivery will be delayed until you have the cash. Poor credit ratings will affect how many leases you can have and the value of those leases. But none of that has been implemented yet.
For the example you gave, the cheapest you can get an A332 is $93,520,000.00 with a 40% downpayment. So yes you could buy a new A332 and have roughly $500k left over.
In the future, once the game officially starts, you will not be allowed to go very far into debt without having it affecting your credit rating. If you don't have enough money to pay for the remaining portion of the aircraft for instance, delivery will be delayed until you have the cash. Poor credit ratings will affect how many leases you can have and the value of those leases. But none of that has been implemented yet.
I am the developer of Airline Enterprise