Yes I don't feel that an airline would compromise on safety due to cost.
Also if they were to go bust before you went then surely your insurance would cover this.
It's important to ensure you are covered against the airline going under when you are away so that you aren't left out of pocket.
The only thing that there is to really worry about is having your holiday cancelled at the last minute or the inconvenience of being left stranded somewhere but then you probably wouldn't go in the first place if you were worried about that. Or I would book with one of the larger companies so that the chances of them going bankrupt is diminished.