Advice for Independence Air Travelers

But that doesn't mean its customers will be left completely empty-handed. Here's advice for what to do if you're a member of the airline's frequent-flier program or currently have travel booked for after Jan. 5.

1. Keep your paperwork
Whether you bought your ticket online or through a travel agent, request or print out any paperwork relating to your reservation, says Tom Parsons, chief executive of BestFares.com, a travel web site. Among other things, you'll want your flight numbers and record locator number. You'll need this information when you arrange alternative travel, and once Independence Air ceases operations there's no guarantee customers' records will be accessible online.

2. Talk to other airlines
Independence Air has announced that it's seeking bankruptcy court approval to automatically provide refunds to customers scheduled to fly after Jan. 5. However, that might take time — if it happens at all.

Instead of waiting, contact other airlines flying the same route. Section 145 of the Aviation and Transportation Security Act requires carriers to honor tickets of grounded airlines if they have seats available. Better yet, they aren't allowed to charge more than $50 each way.

One caveat: You'll be flying standby, which means you may have to wait a while for a seat to open. Fortunately, this is the least busy time of year for travel, so passengers have a good chance of getting seats, Parsons says. "I do believe Independence Air gave us a break," he says. "They could have [shut down] the week before Christmas and left a lot of people stranded all over America because there were no empty seats."

Currently, United Airlines, US Airways and Spirit Air have announced they are prepared to honor rebooking requests from Independence customers for a $50 charge each way. For double that charge, US Airways is offering reserved seats.