Depends on the airline. For a national flag carrier such as Air Canada I might. The government here isn't going to let it go under but the bond would have to spend like cash and be of a sufficient premium to make it worthwhile.
Hotel chains less likely but maybe. I'm already "invested" in a couple of pre-booked stays for later this year, am not seeking refunds and keeping my fingers crossed
Cruise lines? Not on your life. I expect that segment of the travel market to be devastated.