Facelookbovard
Don't forget PM used the hedging excuse against Ryanairs MO aswell so it won't be long before Flyglobespan and Jet2 are in the same boat with the mortgage payments (as you put it) soon to be put up!
In the case of jet3 (damm 2,3 next to each other) there are shareholders to cosider but at GSM theres no shareholders just one man Tom Dalrymyple who has ultimate control over the airline owning 100% last year he made a 13million loss and he didn't show one bit of worry because the airline is already back on track to profit.
Though the long-haul market from Scotland is limited it works for GSM there loads for each flight are around 90-100% full to SFB and same from the UK to Canada. Now they have a bigger share of the market in certain UK airports because of the collapse of ZOOM.
I think the strategy as you put it a Travel company trying to become an airline works the better way around than an airline trying to become an travel company. Offering all sorts at every destination you fly to from hotels, Car hire, nile cruises to accomodation only and transfers which all adds as extra revenue ontop of all the a/c lease's, Global holidays/Flyglobespan and MOD contracts.
Plus the globespan colours just look so much better!
