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Another airline company has gone bust and left passangers who were on a ticket only deal with them stranded. Those who paid by credit card should be OK - if they have enough on their card for a flight to get them home! ABTA and ATOL only protect holidays apparently so many who paid cash or used a debit card have lost their money. The company says it is because of the high cost of fuel - they were paying $130 a barrel whereas the large companies got better deals paying $68 - 80 a barrel. As this situation is likely to get worse, would you think twice before buying a ticket only from a small company as they are so much more vulnerable?
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