Unfortunately, when an airline files for bankruptcy, you, as a ticket holder, become just one more on a list of creditors who are looking for compensation. You do, however, have 2 avenues to explore. If you have paid by credit card, you may try contacting your credit card company. They frequently make good on the purchase. Also, you may want to contact competing airlines. Sometimes, if flights are not fully booked, they will honor your ticket in an attempt to build new loyalties.

Good luck.