I know that for those employed by Globespan and associated companies this is a bum thing to happen. I don't want to do the usual "condolences to those affected" becase not only do I not personally know anyone affected, but also because this is people losing jobs, not the death of relatives. However....
While the recession began 12 months ago, they don't last forever. This means it can't be that long before the economy is back into growth mode, which means punters paying more for flights, and airlines more likely to be hiring
Globespan had quite a strong and useful niche by being one of the major carriers from Scotland to sunshine destinations in Europe. There will always be a demand by the good people of Glasgow, Edinburgh and Aberdeen to fly off to a sunny Mediterranean beach. This means that at least some of the routes should get re-established in the next few months. This of course means that pilots, cabin crew and ground staff will all be needed at GLA, EDI and ABZ.
It'll be a rough few months, but jobs will come back.
Head up, chin up, chest out and walk on with your pride intact