FlyGlobeSpan - 8 (merged)
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The independant has every right to run the story, its hardly a state secret that the company is in severe trouble and its imminent collapse is very much on the cards
Join Date: Mar 2000
Location: U.K.
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The only people who would know the truth about GSM's financial state are the high level management.
Unless they make a statement that they are in trouble (which will never, ever happen of course), then it is all just rumour and conjecture.
Whenever any airline mentions money (unless it is to crow about record profits) then I sense problems, especially at any time that isn't a traditional financial reporting time.
Unless they make a statement that they are in trouble (which will never, ever happen of course), then it is all just rumour and conjecture.
Whenever any airline mentions money (unless it is to crow about record profits) then I sense problems, especially at any time that isn't a traditional financial reporting time.
Join Date: Jul 2007
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It seems to me that it's lack of credit that generally brings down airlines.
Despite massive losses BA, it would appear, still has plenty of credit. Not quite the same for GSM?
Despite massive losses BA, it would appear, still has plenty of credit. Not quite the same for GSM?
Couldonlyaffordafiver
Join Date: Dec 2000
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It seems to me that it's lack of credit that generally brings down airlines.
It seems to me that it's lack of credit that generally brings down airlines.
Despite massive losses BA, it would appear, still has plenty of credit. Not quite the same for GSM?
Despite massive losses BA, it would appear, still has plenty of credit. Not quite the same for GSM?
BA had this written about them in June but they have succesfully refinanced with £600M plus in new debt but that doesn't mean they out of the woods if their cost control and revenue doesn't happen.
Join Date: Oct 2003
Location: Behind you all the way!
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According to the internal announcement this afternoon, Halcyon Investments was chosen by FlyGlobespan, apparently after considering offers from several interested investors.
I think that speaks for itself.
I think that speaks for itself.
Join Date: Sep 2002
Location: Middlesesx
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Chalk and cheese comes to mind?
GSN aircraft are hardly latest technology!!!!!!!!!!
Why do so many of you seem to think that a charter outfit in anyway compares to BA - get a reality check!
GSN aircraft are hardly latest technology!!!!!!!!!!
Why do so many of you seem to think that a charter outfit in anyway compares to BA - get a reality check!
Join Date: Mar 2000
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Oh, an internal memo... Must be true then!
I'm glad that this means that GSM is safe, but why do they need the cash? Expansion or just to keep the wolf from the door until summer?
I'm glad that this means that GSM is safe, but why do they need the cash? Expansion or just to keep the wolf from the door until summer?
Join Date: Aug 2001
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GSN aircraft are hardly latest technology!!!!!!!!!!
Join Date: Jul 2007
Location: dundee
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HZ 123 Chalk and cheese comes to mind?
GSN aircraft are hardly latest technology!!!!!!!!!!
Why do so many of you seem to think that a charter outfit in anyway compares to BA - get a reality check!
re your comments they both fly people is that not the bottom line, be it charter or as you sound a BA lover, BA thats the airline that may go on strike at xmas is'nt it, think I feel happier flying GSM at xmas time, might get there late but at least I know I'd get there......
GSN aircraft are hardly latest technology!!!!!!!!!!
Why do so many of you seem to think that a charter outfit in anyway compares to BA - get a reality check!
re your comments they both fly people is that not the bottom line, be it charter or as you sound a BA lover, BA thats the airline that may go on strike at xmas is'nt it, think I feel happier flying GSM at xmas time, might get there late but at least I know I'd get there......
Join Date: Oct 2003
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It wasn't an internal memo'. There was a statement to all employees & contractors announcing the Halcyon deal & a release to the Scottish Press.
Wolf avoidance? Expansion? Who knows? GSM as 2 B763's away to the Hajj, they come straight back to go away again on another 2-3 month ACMI effectively taking us up to the prep' for the S10 season.
The other 2 B763's are MoD UK-ASI-FI AirBridge committed & MoD/ Civvy AdHoc.
B73NG's were sent back to lessor for the W09 period & picked up some Subbie work for Viking to SSH ex-MAN.
The company's very busy.
Wolf avoidance? Expansion? Who knows? GSM as 2 B763's away to the Hajj, they come straight back to go away again on another 2-3 month ACMI effectively taking us up to the prep' for the S10 season.
The other 2 B763's are MoD UK-ASI-FI AirBridge committed & MoD/ Civvy AdHoc.
B73NG's were sent back to lessor for the W09 period & picked up some Subbie work for Viking to SSH ex-MAN.
The company's very busy.
Join Date: Jul 2008
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It seems to me that it's lack of credit that generally brings down airlines.
yup.
interestingly Flyglobespan made MORE profit than British Airways.
Join Date: Oct 2005
Location: uk
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Board have announced exciting news about an investor coming onboard in order to grow the company to the next level.
I hope for those employed at Globespan and those trying to become re-employed elsewhere that this isn't the case, but I certainly would not put too much faith in that old chesnut.
Join Date: Jul 2008
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Board have announced exciting news about an investor coming onboard in order to grow the company to the next level. Heard exactly the same thing before my company went bust at the end of last year. 
I hope for those employed at Globespan and those trying to become re-employed elsewhere that this isn't the case, but I certainly would not put too much faith in that old chesnut.
I hope for those employed at Globespan and those trying to become re-employed elsewhere that this isn't the case, but I certainly would not put too much faith in that old chesnut.
seen it many times before...
lets hope they do find an investment source and stay in the game..
Join Date: Jul 2004
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From RATI news
Flyglobespan says that, following several months of negotiations with Halcyon Investments, it has completed a deal with the company.
In a statement, Flyglobespan owner and chairman Tom Dalrymple says: "In the past few months I, and my senior executives, have received a number of presentations from parties interested in investing in our business.
"I am pleased to say that the chosen investor has the financial strength and vision to take the business forward to its natural next level."
In the same statement a spokesman for Halcyon Investments - which operates from an address in London - says: "We have great belief in the Globespan senior management and its brand positioning in the marketplace.
In a statement, Flyglobespan owner and chairman Tom Dalrymple says: "In the past few months I, and my senior executives, have received a number of presentations from parties interested in investing in our business.
"I am pleased to say that the chosen investor has the financial strength and vision to take the business forward to its natural next level."
In the same statement a spokesman for Halcyon Investments - which operates from an address in London - says: "We have great belief in the Globespan senior management and its brand positioning in the marketplace.
Join Date: Oct 2003
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Thanks Mary,
Pprune never ceases to amaze me! This 'Story' was put to the sword & then bed on the 'Airlines, Airports & Routes Forum' today after being started in response to the Indie on Sunday by a Hack that tried to ruin GSM last year by saying that they would be the next airline to go bust just after XL & Zoom spun in. He is just Anti-GSM!!!
Scaremongering Journo-Crassness like his should be banned. It was the nail in XL's coffin when people cancelled holidays & booked elsewhere because a couple of papers said "Ooh, XL's looking dodgy". Well no sh*t, Sherlock!! They were looking a whole lot dodgier after comments like that!!!
Anyway. GSM's making stacks of cash compared to some airlines & how many airlines have been able to 'pick & choose' from several investors?
Pprune never ceases to amaze me! This 'Story' was put to the sword & then bed on the 'Airlines, Airports & Routes Forum' today after being started in response to the Indie on Sunday by a Hack that tried to ruin GSM last year by saying that they would be the next airline to go bust just after XL & Zoom spun in. He is just Anti-GSM!!!
Scaremongering Journo-Crassness like his should be banned. It was the nail in XL's coffin when people cancelled holidays & booked elsewhere because a couple of papers said "Ooh, XL's looking dodgy". Well no sh*t, Sherlock!! They were looking a whole lot dodgier after comments like that!!!
Anyway. GSM's making stacks of cash compared to some airlines & how many airlines have been able to 'pick & choose' from several investors?