I was caught up in the XL affair, flying in on the 5th of September, due to fly back on the 20th, them going bust on the 12th, so I was stranded. Managed to book an easyJet flight back on the 20th so fine, but it cost me an extra 350 euros. It was booked on the credit card and I should be covered - put the claim in as soon as I got back but they did say it might take three months (it's been a month so far). A bit of contact, they've wanted a few bits of extra paperwork above just the tickets and receipts but it sounds as though it will be okay.
Hopefully, the refund will coincide with easyJet publishing next summer's schedule and I can do the whole thing all over again...
Seriously though, Crete is a pretty good place for that sort of thing to happen - Nikos Kazantzakis might not exactly be Heathrow or O'Hare, but compared to say Lesbos or Mykonos airports, there are plenty of options for geting back in an emergency.