Five Steps for Buying Airline Tickets

4. Go With a Larger Airline

What many people fail to take into account is that while a credit card can get you a refund for the ticket you purchased when an airline goes bankrupt, you may very well end up having to pay for a premium priced, last minute fare to make it to your destination. Therefore it's in your interest to choose an airline that has a much less chance of going into bankruptcy in the first place. While larger airline are not immune to bankruptcy, they are in a much better position to remain flying if they do declare bankruptcy than smaller airlines.

While smaller airlines may entice you with low fares, if you absolutely need to make it to the destination for a wedding, funeral or an important meeting, paying a bit more for a ticket with a larger airline can make a lot of sense with the current air travel conditions.

5. Don't Buy Tickets on a Bankrupt Carrier

If you are purchasing tickets, don't buy tickets on an airline that is already under bankruptcy protection even if they are still flying.

Once under bankruptcy protection, an airline can be shut down at any time by the bankruptcy court even when they claim they will continue to operate and honor all tickets. It ultimately is not their decision and you can easily be stranded. Even when the airline offers a lower price or a better flight schedule, the added risk of not getting to your destination or back home isn't usually worth it.

There is no guarantee that any airline won't go bankrupt, but you can look at how the carrier is doing to determine if they are in good financial shape. With the current conditions making it tough on all airlines, being extra cautious when purchasing airline tickets makes sense and realizing that getting the lowest airline fare is no longer the only consideration that you need to take into account.