Air Pegasus — Flights cancelled at the last moment

Address:	560076
Website:	www.airpegasus.in

I have booked my tickets through makemytrip.com for Air pegasus for travel to cochin from bangalore. the ticket was booked on 10th May. they offered the cheapest tickets for the date of travel i.e. 6th Aug and return on 7th Aug.
the air pegasus team just called me half and hour back and informed that the flight has been cancelled. now the ticket rates have become double. how is anyone supposed to get tickets at the last minute. one of the most horrible travel experience. there are so many negative reviews about this airlines. please let me know what can be done regarding this.