Flyglobespan goes bust

December 16: Glasgow-based airline Flyglobespan has gone into administration, “having suffered liquidity issues” according to its website. The company had been seeking extra finance from a Jersey-based investment group, and had been confident about a successful outcome as recently as Tuesday.
PricewaterhouseCoopers (PwC) has been appointed as administrator to the carrier and its parent company The Globespan Group plc. All flights operated by Globespan Airlines have been cancelled and the aircraft grounded. Any customers who have booked a flight through Globespan Airways Limited operating as Flyglobespan are unlikely to be covered by the ATOL scheme, the notice says.
Globespan Airlines began operating in May 2002 and had a fleet of nine aircraft, consisting of five Boeing 737 Next-Generation and four Boeing 767s. The company also had a Ministry of Defence contract for the South Atlantic airbridge, flying military personnel from RAF Brize Norton in Oxfordshire to Ascension Island and the Falkland Islands.