Findo
2nd Jun 2003, 21:56
Haven't seen this reported in detail so I have copied the Herald article from last week.
Trying to interpret from this story it seems like major developments by Globespan.
1. They look like setting up their own airline next year instead of using Chanex.
2. They will fly to another 2 Spannish resorts this summer. Which airports ? Another B737 ?
3. They are going to try for Toronto very soon.
Fantastic for Scotland if they all come off. :D :D
Globespan earnings soar 75% to £3.5m
MARK WILLIAMSON
Tom Dalrymple saw profits leap 75% at his Globespan travel business last year as he finalised plans for the launch of Scotland's first low-cost airline in March.
Helped by a strong increase in sales, combined with cost-cutting, the independent Scottish tour operator increased pre-tax profits to a seven-year high of £3.5m.
The latest chapter in the 29-year history of the firm, whose success has made Dalrymple one of Scotland's richest men, saw Globespan generating plenty of cash to support a move into the no-frills flight business.
News of the record performance came as sources said the Flyglobespan.com airline had got off to such a good start Dalrymple was already planning a dramatic move into the transatlantic flight market. Accounts for Globespan filed at Companies House show the firm, which is the UK's biggest operator of tours to Canada and sells holidays and flights across the world, increased turnover 9%, from £67m to £73m last year.
A sharp reduction in the number of employees, from 182 to 144, helped the group grow profits faster than sales in the year to end October.
The accounts show that Dalrymple took a modest £200,000 out in the form of dividends, unchanged on the previous year. The highest-paid director's emoluments were static at £210,000.
Net of tax, Globespan generated £2m of cash in the year as Dalrymple readied himself to expand his empire into the operation of a low-cost airline and possibly other fields.
The directors report says Globespan will develop "other opportunities it considers will provide growth, combined with profitability".
Dalrymple was not available for comment. However, a source close to the company said Dalrymple was so pleased with demand for Flyglobespan services, linking Scottish airports with hotspots like Malaga in Spain, he was planning to start flights to Toronto this year.
A spokesman for the company said Flyglobespan would add two new destinations in Spain this summer. It already flies from Scotland to Malaga, Palma, and Barcelona, as well as Nice and Rome.
He declined to give details of passenger numbers.
The accounts show Globespan acquired the 49% of Viatours, the Scottish tours business, it did not already own for £238,000.
- May 30th
Trying to interpret from this story it seems like major developments by Globespan.
1. They look like setting up their own airline next year instead of using Chanex.
2. They will fly to another 2 Spannish resorts this summer. Which airports ? Another B737 ?
3. They are going to try for Toronto very soon.
Fantastic for Scotland if they all come off. :D :D
Globespan earnings soar 75% to £3.5m
MARK WILLIAMSON
Tom Dalrymple saw profits leap 75% at his Globespan travel business last year as he finalised plans for the launch of Scotland's first low-cost airline in March.
Helped by a strong increase in sales, combined with cost-cutting, the independent Scottish tour operator increased pre-tax profits to a seven-year high of £3.5m.
The latest chapter in the 29-year history of the firm, whose success has made Dalrymple one of Scotland's richest men, saw Globespan generating plenty of cash to support a move into the no-frills flight business.
News of the record performance came as sources said the Flyglobespan.com airline had got off to such a good start Dalrymple was already planning a dramatic move into the transatlantic flight market. Accounts for Globespan filed at Companies House show the firm, which is the UK's biggest operator of tours to Canada and sells holidays and flights across the world, increased turnover 9%, from £67m to £73m last year.
A sharp reduction in the number of employees, from 182 to 144, helped the group grow profits faster than sales in the year to end October.
The accounts show that Dalrymple took a modest £200,000 out in the form of dividends, unchanged on the previous year. The highest-paid director's emoluments were static at £210,000.
Net of tax, Globespan generated £2m of cash in the year as Dalrymple readied himself to expand his empire into the operation of a low-cost airline and possibly other fields.
The directors report says Globespan will develop "other opportunities it considers will provide growth, combined with profitability".
Dalrymple was not available for comment. However, a source close to the company said Dalrymple was so pleased with demand for Flyglobespan services, linking Scottish airports with hotspots like Malaga in Spain, he was planning to start flights to Toronto this year.
A spokesman for the company said Flyglobespan would add two new destinations in Spain this summer. It already flies from Scotland to Malaga, Palma, and Barcelona, as well as Nice and Rome.
He declined to give details of passenger numbers.
The accounts show Globespan acquired the 49% of Viatours, the Scottish tours business, it did not already own for £238,000.
- May 30th