Bruce Cartwright, Graham Frost and Ian Oakley-Smith at PricewaterhouseCoopers (PwC) have been appointed as joint administrators to Scottish travel firm, The Globespan Group plc and Alba Ground Handling Ltd (‘the Group’) on 16 December 2009. It is likely that other Group companies including the airline which operated as Flyglobespan will be placed into administration on 17 December 2009.
The companies entered into Administration having suffered liquidity issues.
Unfortunately, the Joint Administrators have been unable to continue trading the companies and therefore all flights operated by The Globespan Group plc or Globespan Airlines Ltd have been cancelled and the aircraft grounded.
Interesting wording of the press release.
Having read through it a couple of times, I get the impression that FlyGlobespan would appear to be the part that is
NOT causing the problem. Reading the first part again, it seems to me from the wording to be the parent company & Alba that are the problems here.
Still at the end of the day, despite what appears to be good set of load factors in the latest route figures, a lot of good folks are likely to find themselves having to look for a new employer & a lot of fairly convenient routes are going to disappear. Let's all hope for a quick and positive resolution.