I hope so too, I should hear from the agents in the next day or two if we've gotten replacement flights and how expensive they will be. We have been looking at back up plans and other holidays we could go on but it would in fact mean paying twice for what would essentially be the same holiday. Not ideal but right now all we can do is wait for more news.
Hopefully the situation with your parents' travel agency doesn't change and their holiday remains unaffected. I think the worst possible thing would be if the company folder while you are on your holiday. Some of the stories I've heard of the hotels kicking out guests or locking them out of their rooms .. or even getting security guards to prevent them from leaving the hotel is awful. Not something you want on a holiday!