Notice the sky above you getting clearer? That's because more and more flights keep getting canceled. American Airlines has canceled another 1,000 flights because it is reinspecting their fleet of MD-80 jets. MSNBC News Services reports that this could leave 100,000 travelers looking for new flights.

Add these cancellations to the recent cancellations of airlines going bankrupt (Aloha, ATA and Skybus) and you have the makings of some anxiety going into the busy summer vacation season.

What can you do with all these cancellations and bankruptcies?

Consider purchasing travel insurance, particularly with a company which will cover you if the airline you chose goes out of business. While an airlines which cancels a flight will put you on another flight, there's not always a guarantee that another airline will honor your ticket on an airline which goes bankrupt. With travel insurance at least you don't lose the money you spent on your tickets. And, I wouldn't assume the bankrupted airline will give you a refund. It’s not likely that will happen, since they’re filing bankruptcy for a reason.