Patrick Smith, the author of _Ask the Pilot_ and also author of the column in salon.com by the same name, discusses this very issue about safety with airlines in bankruptcy.

You can go to http://dir.salon.com/topics/ask_the_pilot/ to see a list of his columns. The most recent one will address your question.

Note that you'll have to view an ad in order to read the column if you're not a paying member of salon.com.

This guy has a lot of great info. I'd highly recommend his book, too. I've shared it with several folks who commented that it helped them relax while flying. A little knowledge can go a long way!

happy flying,
big V