Dom said
In order to make the payment for travel I'd be surprised if less than 99% paid by credit card. In which case they will be refunded by their credit card companies
Maybe, although why the rest of the card companies' customers should pay for the crash is debatable.
Many more will have paid by debit card to avoid the credit card surcharge. They will not be protected.
The timing is cynical to say the least. Take the maximum revenue before a holiday weekend, shut up shop before delivering the goods. If a market trader operated like this you'd have a different view.