This 'Simon Evans' is the same 'hack' that started the "FlyGlobespan next airline to fail" last year when XL & Zoom failed. He knows nothing about anything. He's just trying to generate news at a time when there is none. It is irresponsible reporting like his that finally broke XL. Hacks should be able to be prosecuted for scaremongering.
So a credit card company goes into admin owing people money. The owner has more than enough to 'prop up' the company until a deal is reached with the debtors. GSM has good contracts earning cash, has reduced it's capacity & is frugally but sensibly managed.
Apparently Rick Greene, the CEO is announcing 'Good News' to the workers sometime this week.
