There is at least one up-side to this horrible situation, and that is how Europe is full of other LCC airlines, and already Ryanair is stepping up to offer stranded passengers a special 25 Euro Rescue fare, including fees and taxes one-way. It is only valid on flight to/from Bratislava and Alicante, Barcelona-Girona, Brussels-Charleroi, Rome-Ciampino, Liverpool, and London-Stansted. The rescue fare must be booked here and applies only to SkyEurope passengers who can quote their booking reference number.
Ryanair even uses this occasion to make a jab at SkyEurope and other shaky competition: "[Ryanair] advised passengers that the best way to ensure travel plans are protected is to travel only with financially secure airlines such as Ryanair." We sure won't be hearing the end of this anytime soon. Our thoughts are with the thousands of panicking passengers on the other side of the ocean today; it's never nice to hear about the failure of an airline.