FlyGlobeSpan - 8 (merged)
Join Date: Apr 2008
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Here is a link to the article that BCALBOY is referring to! Independent
The report can be read by all interested! A cash flow issue. By the sounds of things, it may not be the last!
It's interesting that there was no comment from GSM this time! Normally TD and RG are keen to dumb down these types of stories...
The report can be read by all interested! A cash flow issue. By the sounds of things, it may not be the last!
It's interesting that there was no comment from GSM this time! Normally TD and RG are keen to dumb down these types of stories...
Join Date: Dec 2004
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Reading that article it sounds like the credit card processing company is causing at least some of the issues. It was a similar situation which forced Frontier Airlines in the US into Chapter 11
Join Date: Mar 2008
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Airhumberside
Sound more like a lack of working capital to me, Globespan is not like say BA were many people pay only a few days before their travel, much of Globespan business is forward bookings and the Falkland contract will be paid on time no doubt,in other words they are using customer capital to run the business.
The fact that it had got to the 1th hour and the CAA had been informed will do nothing for customer confidence, even if you get your money back from the credit card company why would you risk the hassel involved?
I would think the directors are working to split the airline from the (profitable) travel company, no doubt Jet2 will be waiting in the wings with the rescue fleet, hope it doesn't come to that.
The fact that it had got to the 1th hour and the CAA had been informed will do nothing for customer confidence, even if you get your money back from the credit card company why would you risk the hassel involved?
I would think the directors are working to split the airline from the (profitable) travel company, no doubt Jet2 will be waiting in the wings with the rescue fleet, hope it doesn't come to that.
Join Date: Nov 2007
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Not the best of news got to say, they should really move themselves and get some sort of statement out it was only cause panic otherwise. Im sure the CAA and passengers alike will be desperate to know if this funding has secured Globespan. It would be such a shame if they were to go under fingers crossed everythings ok now.
Think there would be any investors out there willing to dip their toe in Globespan or an airline willing to buy or merge with them? (though this would be a last ditch measure id think)
Think there would be any investors out there willing to dip their toe in Globespan or an airline willing to buy or merge with them? (though this would be a last ditch measure id think)
Join Date: Jun 2008
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Just because planes are full , does not mean to say they are profitable .
Why are there problems with GLA/TFS today/yesterday , I smell a rat or is it yet more tech problems ? GSM are still the least reliable airline around for punctuality and tech probs and it seems to be getting worse again . I am a bit surprised TCX took them to carry holiday pax next year .
I do hope they survive however .
Why are there problems with GLA/TFS today/yesterday , I smell a rat or is it yet more tech problems ? GSM are still the least reliable airline around for punctuality and tech probs and it seems to be getting worse again . I am a bit surprised TCX took them to carry holiday pax next year .
I do hope they survive however .
Join Date: Oct 2003
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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.
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.
I smell a rat .
Join Date: Jan 2007
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Pure Media Speculation
This Independent Journalist needs to be sacked for pure scaremongering. Utter rubbish.
He should be personally accountable for getting the hard working staff at the company all upto ninety about this.
His facts are are so incorrect that he mentions GSM (Alba) handles flybe at Glasgow and Edinburgh..hmm.. it's only GLA they handle at!
"Concerns about Globespan came in the week when Aero Inventory, an Alternative Investment Market aircraft component supplier, fell into administration. The firm, which employed 135 staff, failed after its backers refused to put up new money. " errr... what's that got to flaming do with GSM?
..."It's believed that the Civil Aviation Authority, the industry regulator, was informed about the possible collapse of "an airline". Contingency plans to repatriate thousands of passengers who would have been left stranded by a collapse are thought to have been drafted.
Again - choice of words further confirm this guy has no idea what's he's talking about
He should be personally accountable for getting the hard working staff at the company all upto ninety about this.
His facts are are so incorrect that he mentions GSM (Alba) handles flybe at Glasgow and Edinburgh..hmm.. it's only GLA they handle at!
"Concerns about Globespan came in the week when Aero Inventory, an Alternative Investment Market aircraft component supplier, fell into administration. The firm, which employed 135 staff, failed after its backers refused to put up new money. " errr... what's that got to flaming do with GSM?
..."It's believed that the Civil Aviation Authority, the industry regulator, was informed about the possible collapse of "an airline". Contingency plans to repatriate thousands of passengers who would have been left stranded by a collapse are thought to have been drafted.
Again - choice of words further confirm this guy has no idea what's he's talking about
Join Date: Nov 2007
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Its that type of language that makes him legally aloud to write it because hes not actually quoting anything for definate. The GSM management i hope tomorow will come out quickly to make sure cumstomers and staff alike know the truth, and fingers crossed its all good news.
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The GSM management i hope tomorow will come out quickly to make sure cumstomers and staff alike know the truth
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Glad to hear that this isn't as serious as it sounds. Why would this journo print nonsense like this?
Unfortunately this sort of story often has self-fulfilling tendancies because of the bad publicity.
Fingers crossed for all who work at GSM that this is nothing more than scurillous rumour and poor journalism.
Unfortunately this sort of story often has self-fulfilling tendancies because of the bad publicity.
Fingers crossed for all who work at GSM that this is nothing more than scurillous rumour and poor journalism.
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Suspect the journo did'nt get a free drink onboard. I'll have a little wager that GSM are still flying both next and many years into the future.
Best wishes to all in Colinton, am certain all will be well
Best wishes to all in Colinton, am certain all will be well
Join Date: Jun 2001
Location: South of MAN, North of BHX, and well clear of Stoke ;-)
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the CEO is announcing 'Good News' to the workers sometime this week.
This piece and it's author seem well summed up by a quote from Macbeth
"A poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing."
How many other companies within the UK have similar late payment issues every week to greater or lesser degrees - the number will be in the thousands? How many get reported in this sensationalist & speculative manner - not one.
My money is on Simon Evans having a personal axe to grind with someone at FlyGlobespan as well as having a significant bet lodged [directly or otherwise] with Paddy Power [or others] & is using his privelidged position, trying to work the market so that he can collect. Previously, any responsible editor at the paper would not have allowed such an unfounded speculative piece to sully the pages of the Indy however, it appears that standards of profesionalism in journalism have fallen lower than the apparent investigative abilities of those in the current employ.
And for the record - I am in no way, a fan of Globespan.
"A poor player
That struts and frets his hour upon the stage
And then is heard no more: it is a tale
Told by an idiot, full of sound and fury,
Signifying nothing."
How many other companies within the UK have similar late payment issues every week to greater or lesser degrees - the number will be in the thousands? How many get reported in this sensationalist & speculative manner - not one.
My money is on Simon Evans having a personal axe to grind with someone at FlyGlobespan as well as having a significant bet lodged [directly or otherwise] with Paddy Power [or others] & is using his privelidged position, trying to work the market so that he can collect. Previously, any responsible editor at the paper would not have allowed such an unfounded speculative piece to sully the pages of the Indy however, it appears that standards of profesionalism in journalism have fallen lower than the apparent investigative abilities of those in the current employ.
And for the record - I am in no way, a fan of Globespan.
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Simon Evans
Well said Donkey497
This kind of irresponsible journalism is damaging, and Simon Evans should be held accountable if any of his allegations are proven to be incorrect.
This kind of irresponsible journalism is damaging, and Simon Evans should be held accountable if any of his allegations are proven to be incorrect.
I Have Control
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Independent--Rubbish Newspaper
The Independent is a scurrilous and biased rag at the very best of times....Fisk, Alibaba-Brown, et al. Ignore the anti-Globespan rant of Evans.
In fact, The Independent is quite close to closure itself, due to fiscal problems, if truth be known.
In fact, The Independent is quite close to closure itself, due to fiscal problems, if truth be known.
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How many other companies within the UK have similar late payment issues every week to greater or lesser degrees - the number will be in the thousands? How many get reported in this sensationalist & speculative manner - not one.
I wonder just how close to the brink GSM actually came or was (as many posters have already decided) the story just pure speculation. It will be interesting to hear what GSM's response is.
And also for the record, I have little or no time for newspaper journalists.