I was in Cancun when Oasis Airlines (I think that was their name) went under. We had booked air only, since we were using a time share for accomodations. The Cdn government sent a plane to take us home! (And it was AC to boot.)
I was just glad Oasis went under after we were already in Mexico rather than before we left. I'm sure the Cdn govt wouldn't have flown us down for our vacation!