I know that several people on here lost holidays and/or money due to airlines going bust, so I thought I'd post a link to this
story looking at how to avoid losing money on holidays in other ways. It focuses on "holiday clubs" - the type where you're invited to a lengthy presentation, told you can sign up to a club that lets you take cheap holidays whenever you want, and pressured to sign a contract there and then.
It seems that around 400,000 people in the UK fall victim to this kind of scam every year, so be warned!