After the collapse of the popular charter airline Skyservice, travelers are feeling stressed and frustrated with their travel plans left up in the air.

On Wednesday morning, Skyservice Airlines announced it would cease all operations after receivership by the Ontario Court.

"Recent changes in the Canadian vacation tour market combined with Skyservice Airlines' debt level have rendered the company unable to maintain profitable operations," said an official statement issued by Skyservice.

Mary-Anne Harrison, director of operations and chief financial officer for The Travel Industry Council of Ontario, told TheDailyPlanet.com that if travelers are feeling uptight, they really need to take a step back.

“Because of the travel legislation in Ontario, people are protected so they shouldn’t worry. Travel agents and tour operators have a responsibility to protect customers. They have to find alternative travel arrangements for the customers.”

Harrison said she can understand people’s concerns and offered some advise.

“I suggest people go back to their travel agent and find out what is happening with their vacation. If the agent is not able to accommodate the customer, then the money will be refunded. The tour operators are handling these types of things the way they always do."

For those who are away on vacation right now, Harrison said the operators know where the passengers are and they have organized for them to come back.

"No one is stranded. Passengers will be notified.” she said.

Providing flights for Signature Vacations and Sunwing Vacations, Skyservice Airlines also operated flights for several Canadian tour companies.

Tiffany Onesi, 23, told TheDailyPlanet.com that she booked a vacation to Varadero, Cuba, four days ago.

“When I first heard Skyservice went under, I scrambled to see if it affected my vacation. I was really nervous. Luckily Skyservice doesn’t have a lot of flights through Sunwing - which is what I booked through. I feel really bad though for people who booked through Skyservice. What does this mean for the travel industry? I’m really glad I made the right choice and I get to go on a plane in April.”

Mastercard and Visa have both issued statements, advising customers that they will stand behind the general policy to refund purchases for customers who “do not receive the good and services paid for.”