It would be interesting to know what GSM intend to do with this investment and what size it is. This talk of "to take the business forward to the next natural level" is all very nice but what do they intend to do with the cash? On the presumption that GSM lease their aircraft I wouldn't have thought that much capital (relatively speaking) would be needed to bring in new a/c. GSM have grown rapidly over the last few years without the need of any external investment so why now? If, as I believe is true, the senior management have for months been speaking to external parties about an investment in Globespan, why not communicate it better. This at best is a
PR screw up. Rather than the investment being seen as good news, the management have had to come out and quash rumours the airline is on the brink of failure.
While Globespan showed a modest profit in their last set of accounts, i'm guessing their balance sheet must have taken a hit following the major loss they incurred a couple of years ago. With the added competition on a lot of their bread and butter European routes and the economic forecast, GSM are in for a tricky 12 months on their short haul scheduled business. It's not unreasonable to think that Globespan are short of cash.