Hi aeh,

In addition to Alan's excellent advice, you could also check your policy documents for something called Scheduled Airline Failure (SAF) cover. In this instance, a scheduled airline is classed as one that publishes a timetable, operates to a distinct schedule and sells to the public.

Unfortunately, XL flights may well be regarded as charter flights - and most travel insurance policies do not include SAF cover automatically - it has to be requested as an add-on.

As far as I'm aware, the only providers who include this cover automatically are the Post Office, swiftcover and insurefor. If you buy insurance when booking a flight through Ryanair or easyjet, it's my understanding that SAF is included as part of their policies. It may also be available if you booked insurance through your travel agent.

As Alan mentions, Cancellation cover is a very different thing and predominantly covers you if you have to cancel (or the airline does) - for example if you're ill or the airline cannot operate the flight for technical reasons. Unfortunately, it does not cover financial failure.

I hope that helps.