UK News
Thousands stranded as Scottish airline folds
Dec 17, 2009, 12:06 GMT
London - Thousands of travellers were stranded Thursday after the collapse of Flyglobespan, a regional airline operating holiday travel and transatlantic flights from Scotland.
A spokesman for administrators PricewaterhouseCoopers confirmed that Globespan, the airline's Edinburgh-based parent company, had gone into administration late Wednesday.
Attempts to conclude a financing deal for the airline with a Jersey-based investment group had broken down.
An operation was under way to fly back 4,500 passengers from destinations in Spain, Portugal, Cyprus and Egypt. Flyglobespan also operated flights to the US.
The airline carried more than 1.5m passengers on 12,000 flights in 2008 over the last year.
Flyglobespan, which was set up in 2002, earlier this year reported an operating profit of 1.2 million pounds (1.9 million dollars), following a loss of 19 million pounds in the previous year.
COMMENT
blog comments powered by DisqusLatest Headlines in UK
- 1. Cambridge beat Oxford in 158th Boat Race after midway halt
- 2. Gas flare at Total's North Sea platform self-extinguishes
- 3. A myth turns 100: Titanic still fascinates world
- 4. Source of North Sea platform gas leak located, says Total
- 5. Efforts under way to stop gas leak on North Sea platform
Older Talkback
