Originally Posted by stewardo

Definitely a much greater chance of US disappearing before NZ does, and the chances of NZ disappearing are extremely slim given the large stake held by the state and the strategic importance of the carrier. A number of NZ routes could be dropped if things got/get much worse of course.

My broader question would be - would NZ honour US-issued tickets if US go under? After all, if the ticketing carrier is bankrupt they may never be paid.

Key point: don't worry! Travel insurance with scheduled airline failure cover is good to have and gets rid of many worries. Just enjoy your vacation. Air carriers come and air carriers go.