This will probably not reflect popular opinion, but there is something else to consider.
It may be risky to book on an airline that has a strong threat of liquidation if you have rigid travel plans. My wife and I are planning a trip at the end of the summer to Germany and Poland. The vacation will only be a little over the week, so every day of that trip is very important. If we miss only one day of that trip, we will lose a chance of seeing something that we came all of that distance to see. Here is the problem. If you buy a ticket on an "endangered" airline and have made all your hotel and tour arrangements, you could have a big problem even if your ticket money was recovered. The worst case scenario would be to find out that you no longer have a flight sometime shortly before the trip. By that time, you have paid nonrefundable money for other travel expenses, and it would probably be very difficult to find a comparatively cheap replacement flight in that time period. That means that you could either break the bank buying a new ticket or be forced to miss one or more days of the trip adjusting your schedule.
We found a good deal on KLM/NW, so that is how we are going to make the trip. If UAL had offered a lower fare, I probably would not have booked it because it would be very difficult to change travel plans if we found ourselves suddenly without a ticket. Also, contrary to my posting ID
, summertime is not a good time to nonrev to Europe if you have made a very rigid schedule for your trip.