Flyglobespan into administration
Join Date: Feb 2009
Location: Glasgow, Scotland
Posts: 46
Likes: 0
Received 0 Likes
on
0 Posts
"Therein lies the huge problem facing an industry that eats cash at an alarming rate, chasing the slimest of margins.
Until the travelling public cease thinking that it's reasonable to pay less to fly to Spain than the taxi fare to the aiport there'll be more GSMs
So sorry for the people affected, specially you Littleblue. Good luck"
Its not that I expect the fare should be that low, quite the opposite. However for me when flying Ryanair it has been more of a 'why not' trip, prompted by the ridiculously low fare, a flight I would not have taken had it cost more. Having flew with them numerous occasions, all around the £10 mark, I'm reluctant to pay more with them. Why? Because the next day there could be a sale on offering the same seat at 1p.
It's not that I find a higher fare unreasonable, and when necessary will happily pay it on other airlines. Take Globespan for example, covering bucket and spade routes. Had the trip in question been a week long holiday, yes I would have paid far more than £89. But an overnight in Paris that is simply a cheap overnight - no.
I think Ryanair have set themselves up in a manner where customers will not accept high fares, as they've came to except such low fares. It's nothing to do with what's reasonable or acceptable, but simply buying when the price is right.
Until the travelling public cease thinking that it's reasonable to pay less to fly to Spain than the taxi fare to the aiport there'll be more GSMs
So sorry for the people affected, specially you Littleblue. Good luck"
Its not that I expect the fare should be that low, quite the opposite. However for me when flying Ryanair it has been more of a 'why not' trip, prompted by the ridiculously low fare, a flight I would not have taken had it cost more. Having flew with them numerous occasions, all around the £10 mark, I'm reluctant to pay more with them. Why? Because the next day there could be a sale on offering the same seat at 1p.
It's not that I find a higher fare unreasonable, and when necessary will happily pay it on other airlines. Take Globespan for example, covering bucket and spade routes. Had the trip in question been a week long holiday, yes I would have paid far more than £89. But an overnight in Paris that is simply a cheap overnight - no.
I think Ryanair have set themselves up in a manner where customers will not accept high fares, as they've came to except such low fares. It's nothing to do with what's reasonable or acceptable, but simply buying when the price is right.
Last edited by david.craig; 17th Dec 2009 at 12:33.
Join Date: Nov 2003
Location: Sweden
Posts: 9
Likes: 0
Received 0 Likes
on
0 Posts
Sorry to all old friends
As a former Pilot that was forced to leave in October I am sorry for all of you left.
Not the best of jobmarkets this time of the year, but hopefully next year it will turn around again.
And so sad the day after the Dreamliner made the first flight.
Good luck all ex GSM crews
Not the best of jobmarkets this time of the year, but hopefully next year it will turn around again.
And so sad the day after the Dreamliner made the first flight.
Good luck all ex GSM crews
Join Date: Apr 2004
Location: Castle Diabolique
Posts: 17
Likes: 0
Received 0 Likes
on
0 Posts
Parcelpuppy wrote:
Diabolous
My memory is not hazy at all. I still have the transcripts from the litigation, documentation from MP's and the addresses of the 258 creditors owed 40 million USD and all of us who were ex Cougar employees cheated by the people who went on to form Globespan.The £128,000 paid for the AOC by the new management was a steal.Those ex Cougar staff that went on to start off Flyglobespan were all part of the scam.Dont believe that TD and all of the other directors were not complicit.
Perhaps then it is slightly skewed. You implied that Flyglobespan were started from the ashes of Cougar Leasing Ltd. This is not true GSM started operations in November 2002 when Cougar were still operating as a cargo airline (they ceased pax in oct 2002). Cougar (GCR) did not cease operations until summer 2003 and did not sell the AOC to Flyglobespan until early 2004. TD was also never a director at GCR and I believe that most of the old GCR directors had left GSM by the end of GSM possibly with the exception of one DH.
The demise of GSM may well have been on the cards for some time and there are many factors involved in the failure of any business.
Diabolous
My memory is not hazy at all. I still have the transcripts from the litigation, documentation from MP's and the addresses of the 258 creditors owed 40 million USD and all of us who were ex Cougar employees cheated by the people who went on to form Globespan.The £128,000 paid for the AOC by the new management was a steal.Those ex Cougar staff that went on to start off Flyglobespan were all part of the scam.Dont believe that TD and all of the other directors were not complicit.
Perhaps then it is slightly skewed. You implied that Flyglobespan were started from the ashes of Cougar Leasing Ltd. This is not true GSM started operations in November 2002 when Cougar were still operating as a cargo airline (they ceased pax in oct 2002). Cougar (GCR) did not cease operations until summer 2003 and did not sell the AOC to Flyglobespan until early 2004. TD was also never a director at GCR and I believe that most of the old GCR directors had left GSM by the end of GSM possibly with the exception of one DH.
The demise of GSM may well have been on the cards for some time and there are many factors involved in the failure of any business.
Join Date: Nov 2006
Location: on a big flight deck
Posts: 46
Likes: 0
Received 0 Likes
on
0 Posts
MPA thanks
After a few years on a bi annual trip to the Falklands, GSM were clearly the best operator the MOD have chartered on this route.
Sorry to hear the news guys. Gutted for you at this time of year especially.
Sorry to hear the news guys. Gutted for you at this time of year especially.
Join Date: Jan 2002
Location: Wherever my current employers wish to send me !!
Posts: 718
Likes: 0
Received 0 Likes
on
0 Posts
Onwards and upwards, eh??
We will all be ok. We are the same as all of the rest of the airline staff out there........AMAZING.
What doesn't kill us can only make us stronger. And respect to RG for standing up in front of us this morning to apologise...ok, only words, but we didn't see TD doing the same??
We will all be ok. We are the same as all of the rest of the airline staff out there........AMAZING.
What doesn't kill us can only make us stronger. And respect to RG for standing up in front of us this morning to apologise...ok, only words, but we didn't see TD doing the same??
Join Date: Dec 2009
Location: bolton
Posts: 1
Likes: 0
Received 0 Likes
on
0 Posts
Sad times...
As wife of one of the captains, i've travelled with GSM numerous times and have got to know many of the flight deck, cabin crew and engineers.
What sad news this is for such a fantastic bunch of people, and that's every one of you without exception! You guys have worked so hard to pull it all together in the recently uncertain environment, and I applaud you all.
Best of luck for the future to all the guys and girls on the front line, the spanners, the flight deck and not forgetting our two lovely lady pilots!
J and the Captain
What sad news this is for such a fantastic bunch of people, and that's every one of you without exception! You guys have worked so hard to pull it all together in the recently uncertain environment, and I applaud you all.
Best of luck for the future to all the guys and girls on the front line, the spanners, the flight deck and not forgetting our two lovely lady pilots!
J and the Captain
Death Cruiser Flight Crew
Join Date: Jun 2001
Location: Vaucluse, France.
Posts: 613
Likes: 0
Received 0 Likes
on
0 Posts
"Glamour takes a nose-dive!" says the headline. Not in today's paper, but the dateline is November 9 1968, and there are the sad faces of the LHR check-in girls, sitting on the counter with BRITISH EAGLE emblazoned above them. "It nearly broke my heart," said 24-year old stewardess Miss Jackie Tingrell, as she sadly handed in her plum-coloured uniform.
History went on to repeat itself, time and again, of course: Court Line, Laker, Dan-Air, and Air Europe are the ones that immediately spring to mind, and now Globespan.
I note the snowploughs positioned behind the two parked 737s at Glasgow. Is that really necessary in this day and age?
I wish the staff all the very best in their search for new employment.
History went on to repeat itself, time and again, of course: Court Line, Laker, Dan-Air, and Air Europe are the ones that immediately spring to mind, and now Globespan.
I note the snowploughs positioned behind the two parked 737s at Glasgow. Is that really necessary in this day and age?
I wish the staff all the very best in their search for new employment.
Warning Toxic!
Disgusted of Tunbridge
Disgusted of Tunbridge
Join Date: Jan 2005
Location: Hampshire, UK
Posts: 4,011
Likes: 0
Received 0 Likes
on
0 Posts
Easyjet and Ryanair- don't you watch the news?
Sympathies to all the staff affected. I know how upsetting and traumatic it must be, and what a rotten time for it to happen. Good luck to you all- I hope you can re-enter the profession soon. I hope 2010 brings the recovery that will see full employment again.
Sympathies to all the staff affected. I know how upsetting and traumatic it must be, and what a rotten time for it to happen. Good luck to you all- I hope you can re-enter the profession soon. I hope 2010 brings the recovery that will see full employment again.
Code:
Which carrier is bringing folk back from Tenerife and Faro tonight ?
Psychophysiological entity
Haven't had time to read right through, but as one who has spent time with his passengers bearing bad news about their tickets, this snippet from the Beeb stood out.
Administrators said they planned to investigate why a "significant" amount of cash from credit card bookings did not reach Flyglobespan.
I'd certainly make it my business to find out where the money was, and indeed, who owned the company that was holding it.
BBC News - Flyglobespan collapse strands thousands of passengers
Administrators said they planned to investigate why a "significant" amount of cash from credit card bookings did not reach Flyglobespan.
I'd certainly make it my business to find out where the money was, and indeed, who owned the company that was holding it.
BBC News - Flyglobespan collapse strands thousands of passengers
Join Date: Jun 2009
Location: Not UK
Posts: 199
Likes: 0
Received 0 Likes
on
0 Posts
let me add my best wishes to all at Globespan. Many of us have had it happen, and it is a dreadful experience!
However, we are a tenacious bunch in this profession, stay positive, look after your families, you will survive to fight another day!
Good Luck!
However, we are a tenacious bunch in this profession, stay positive, look after your families, you will survive to fight another day!
Good Luck!
From the Cyprus Mail thisevening...
"A CYPRIOT controlled financial services firm is poised to bail out a Scottish budget airline and package holiday company in a deal that could in turn boost Cyprus’ ailing tourist industry.
Halcyon Investment Corporation, which is controlled by the Cypriot credit card procession firm E-Clear, is negotiating a deal with Scottish Airline Flyglobespan.com to generate both upfront and future investments.
Globespan has denied reports that it is on the brink of collapse. However some British media have speculated that without Halcyon’s investment, the holiday firm will go into administration.
The Independent on Sunday reports that one of the big-four accountancy firms is on standby and the Civil Aviation Authority (CAA) is keeping a close eye on the progress of the deal.
The deal was due to be concluded on Tuesday, but was granted a 48-hour extension by the CAA to finalise the deal, with the outcome expected this afternoon.
The outcome could have real implications for Cypriot tourism. Crawford Blaikin, Spokesman for Globespan, said yesterday “At the moment, Globespan flies from Scotland to Paphos throughout the year. In winter two planes per week fly from Glasgow and Edinburgh and in summer another route operates from Aberdeen.”
“I can’t speculate on any possible extensions, however” he added.
The Boeing 757’s that make the trips carry up to 180 people, which means the collapse of Globespan could spell the loss of several thousand Scottish tourists to Cyprus next year.
Globespan chairman Tom Dalrymple said: “This (deal) is good news for the company, our customers and our staff” and that it could “expand its airline and associated products and services”
Flyglobespan is a subsidiary of Globespan Group was founded in 1970, has 900 staff and operates a fleet of more than 10 aircraft
The company is not alone in facing speculation over its financial status. E-clear is currently six weeks late in filing its accounts at Companies House and they were hit hard by the collapse of other airlines such as XL and Zoom Airlines.
E-Clear’s marketing and communications director, Constantine Seraphim said last week
“We went through this last year and we’ve cleared the situation. We are in a strong position ... Airlines have gone down but our position is really not weakened. We are just assessing our risk like any other bank or financial institution is. We are assessing the risk and we move on.”
Slow connection downroute, sorry if this has already been mentioned. Looks like E-Clear may have some explaining to do...
Anyhows, good luck in the jobhunting to all GSM crew - amongst the others...
500
Halcyon Investment Corporation, which is controlled by the Cypriot credit card procession firm E-Clear, is negotiating a deal with Scottish Airline Flyglobespan.com to generate both upfront and future investments.
Globespan has denied reports that it is on the brink of collapse. However some British media have speculated that without Halcyon’s investment, the holiday firm will go into administration.
The Independent on Sunday reports that one of the big-four accountancy firms is on standby and the Civil Aviation Authority (CAA) is keeping a close eye on the progress of the deal.
The deal was due to be concluded on Tuesday, but was granted a 48-hour extension by the CAA to finalise the deal, with the outcome expected this afternoon.
The outcome could have real implications for Cypriot tourism. Crawford Blaikin, Spokesman for Globespan, said yesterday “At the moment, Globespan flies from Scotland to Paphos throughout the year. In winter two planes per week fly from Glasgow and Edinburgh and in summer another route operates from Aberdeen.”
“I can’t speculate on any possible extensions, however” he added.
The Boeing 757’s that make the trips carry up to 180 people, which means the collapse of Globespan could spell the loss of several thousand Scottish tourists to Cyprus next year.
Globespan chairman Tom Dalrymple said: “This (deal) is good news for the company, our customers and our staff” and that it could “expand its airline and associated products and services”
Flyglobespan is a subsidiary of Globespan Group was founded in 1970, has 900 staff and operates a fleet of more than 10 aircraft
The company is not alone in facing speculation over its financial status. E-clear is currently six weeks late in filing its accounts at Companies House and they were hit hard by the collapse of other airlines such as XL and Zoom Airlines.
E-Clear’s marketing and communications director, Constantine Seraphim said last week
“We went through this last year and we’ve cleared the situation. We are in a strong position ... Airlines have gone down but our position is really not weakened. We are just assessing our risk like any other bank or financial institution is. We are assessing the risk and we move on.”
Slow connection downroute, sorry if this has already been mentioned. Looks like E-Clear may have some explaining to do...
Anyhows, good luck in the jobhunting to all GSM crew - amongst the others...
500
Last edited by 500 above; 17th Dec 2009 at 18:26.