Scotland's biggest airline collapses
Discussion
can't run an airline and you want independence, pah!
Scotland's biggest airline collapses
By Simon Evans (http://www.independent.co.uk/travel/news-and-advice/scotlands-biggest-airline-collapses-1842768.html)
Wednesday, 16 December 2009
Flyglobespan, Scotland's biggest airline, has this evening collapsed with hundreds of jobs likely to be lost.
The group, which has persistently denied stories written by the Independent that was in financial peril, has had its licence to operate revoked by the Civil Aviation Authority, the airline industry regulator.
The group confirmed that it entered into voluntary administration this afternoon.
PricewaterhouseCoopers, the accountants, has been appointed as administrator to the collapsed airline, which is run by Tom Dalrymple, one of Scotland’s wealthiest men.
It's believed that Globespan, which was spared administration at the 11th hour last month, failed to receive payments from Halcyon Investments, a Jersey-based special purpose vehicle.
It is understood the payment was linked to funds owed to the airline by E-Clear, a credit-card processing firm.
Globespan Group, which was founded in 1970, has around 900 staff and operates a fleet of more than 10 planes primarily from Scottish airports to destinations such as Alicante in Spain and Orlando in the US.
The firm also operates baggage and check-in facilities for rival budget airline FlyBe at Glasgow and Edinburgh airports. And last year the company won contracts from the Ministry of Defence to fly to the Falkland Islands and Qatar from RAF Brize Norton in Oxfordshire.
Last month the group staved off collapse with a last-ditch cash injection
Administrators were lined up to handle the airline's collapse but directors at Globespan Group managed to secure new funding at the 11th hour.
Scotland's biggest airline collapses
By Simon Evans (http://www.independent.co.uk/travel/news-and-advice/scotlands-biggest-airline-collapses-1842768.html)
Wednesday, 16 December 2009
Flyglobespan, Scotland's biggest airline, has this evening collapsed with hundreds of jobs likely to be lost.
The group, which has persistently denied stories written by the Independent that was in financial peril, has had its licence to operate revoked by the Civil Aviation Authority, the airline industry regulator.
The group confirmed that it entered into voluntary administration this afternoon.
PricewaterhouseCoopers, the accountants, has been appointed as administrator to the collapsed airline, which is run by Tom Dalrymple, one of Scotland’s wealthiest men.
It's believed that Globespan, which was spared administration at the 11th hour last month, failed to receive payments from Halcyon Investments, a Jersey-based special purpose vehicle.
It is understood the payment was linked to funds owed to the airline by E-Clear, a credit-card processing firm.
Globespan Group, which was founded in 1970, has around 900 staff and operates a fleet of more than 10 planes primarily from Scottish airports to destinations such as Alicante in Spain and Orlando in the US.
The firm also operates baggage and check-in facilities for rival budget airline FlyBe at Glasgow and Edinburgh airports. And last year the company won contracts from the Ministry of Defence to fly to the Falkland Islands and Qatar from RAF Brize Norton in Oxfordshire.
Last month the group staved off collapse with a last-ditch cash injection
Administrators were lined up to handle the airline's collapse but directors at Globespan Group managed to secure new funding at the 11th hour.
I know nothing about Scottish politics other than their hatred for the English, but this, I would imagine, will be a big blow to them.
This pissing economy is really wrecking peoples lives and all the time the greeedy bankers are still awarding large pay rises. It 'aint bloody right.
PS does that mean that the price of Scottish Whiskey will go up
This pissing economy is really wrecking peoples lives and all the time the greeedy bankers are still awarding large pay rises. It 'aint bloody right.
PS does that mean that the price of Scottish Whiskey will go up
Lord Flathead said:
I know nothing about Scottish politics other than their hatred for the English, but this, I would imagine, will be a big blow to them.
This pissing economy is really wrecking peoples lives and all the time the greeedy bankers are still awarding large pay rises. It 'aint bloody right.
PS does that mean that the price of Scottish Whiskey will go up
Globespan has been going down long before the banking crisis really took hold. They were Airline of the Year in 05, but I remember them having a whole lot of trouble when I last worked in an airport. Another case of expanding too quickly?This pissing economy is really wrecking peoples lives and all the time the greeedy bankers are still awarding large pay rises. It 'aint bloody right.
PS does that mean that the price of Scottish Whiskey will go up
Saddening that people find this amusing. Thousands of staff unceremoniously dumped a week before Christmas - without a peep from the (mis)management. They won't be getting paid this month. Many didn't hear until turning up to operate flights, hell some flights were just off the ground as this was announced! And my mate is now out of work between uni terms 
I'd heard Globespan (the airline) had even begun turning a profit and had a good outlook with a recent MOD contract for Falklands flights. Alba ground handling were supposed to be doing alright as well, with contracts for a fair few other airlines won over Servisair at Glasgow. Guess it was Globespan (the travel agent side of things) that dragged it under.... which makes sense given that the airline side of things doesn't actually go into administration until tomorrow, presumably to tie up loose ends and get planes back on the ground in sensible places.
Maybe this will give the striking crews at BA a bit of a shake? They're digging themselves a hole...
I'd heard Globespan (the airline) had even begun turning a profit and had a good outlook with a recent MOD contract for Falklands flights. Alba ground handling were supposed to be doing alright as well, with contracts for a fair few other airlines won over Servisair at Glasgow. Guess it was Globespan (the travel agent side of things) that dragged it under.... which makes sense given that the airline side of things doesn't actually go into administration until tomorrow, presumably to tie up loose ends and get planes back on the ground in sensible places.
Maybe this will give the striking crews at BA a bit of a shake? They're digging themselves a hole...
matchmaker said:
Lord Flathead said:
PS does that mean that the price of Scottish Whiskey will go up
Unlikely - there's no such drink 
TonyToniTone said:
matchmaker said:
Lord Flathead said:
PS does that mean that the price of Scottish Whiskey will go up
Unlikely - there's no such drink What's with blaming the bankers? It's Labour's fault you numpty, they have just passed the baton to avoid getting thoroughly arseraped in the election.
TonyToniTone said:
matchmaker said:
Lord Flathead said:
PS does that mean that the price of Scottish Whiskey will go up
Unlikely - there's no such drink Good riddance,flew with them to Orlando last year,the plane looked and felt like a scrapper,complaint to head office went unanswered,always a bad sign,they used to frequently cancel long haul at no notice.For a year i have wanted them to go tits up,at last i wonder if there is a god.
Bushmills is proper UK based Irish Whiskey.
The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
Edited by Eric Mc on Thursday 17th December 08:37
Eric Mc said:
Bushmills is proper UK based Irish Whiskey.
The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
Of course Scotch Whisky would be 'Uisge beatha' - the Irish never could spell The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
Edited by Eric Mc on Thursday 17th December 08:37
BonzoGuinness said:
Saddening that people find this amusing. Thousands of staff unceremoniously dumped a week before Christmas - without a peep from the (mis)management. They won't be getting paid this month. Many didn't hear until turning up to operate flights, hell some flights were just off the ground as this was announced! And my mate is now out of work between uni terms
Of coursr its saddening and no one find its 'amusing' as in "ha ha ha thank god them people all lost their jobs", but better to be light hearted about it than get depressed over spilt milk. Its capitalism that we have chosen and you got take the good with the bad. If the people losing jobs and not getting paid were not far sighted enough to have jumped shipped (been in the situation myself and was proactive enough to move on prior to it going down) , or saved every penny possible then their choice (the airlined been very close to the brink not so long ago).
I moved to Edinbvrgh in september having lived near norwich nearly all my life. This makes me smile.
also a friend of mine came back from a holiday in mexico yesterday and said when she was over there they had to exchange some currency. she handed over £60 and was given $60. the reason...? they were scottish notes! i laughed, a lot
Einion Yrth said:
Eric Mc said:
Bushmills is proper UK based Irish Whiskey.
The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
Of course Scotch Whisky would be 'Uisge beatha' - the Irish never could spell The word Whiskey/Whisky is a corruption of the Gaelic Uisce Beatha (pronounnced Ishka Baha) - which means "Water of Life". Both Anglicised spellings are "correct" in the sense that they are an attempt by the English to get their mouth around the Gaelic.
Back OT - Caledonian was once a Scottish airline.
Edited by Eric Mc on Thursday 17th December 08:37
Total PIA, they operated some good routes.
As for staff moving on prior to its collapse, perhaps they decided to work at keeping the company afloat rather than jumping ship at the first sign of things going wrong? Perhaps there aren't that many jobs floating around in the airline industry. Perhaps there's not that many jobs floating around full stop.
Jesus, god forbid anyone on PH gets made redundant.
As for staff moving on prior to its collapse, perhaps they decided to work at keeping the company afloat rather than jumping ship at the first sign of things going wrong? Perhaps there aren't that many jobs floating around in the airline industry. Perhaps there's not that many jobs floating around full stop.
Jesus, god forbid anyone on PH gets made redundant.
Edited by DrTre on Thursday 17th December 09:21
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