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Major holiday airline goes bust Major holiday airline goes bust
(10 minutes later)
Scotland's biggest airline, Edinburgh-based Flyglobespan, has been placed in administration with all scheduled flights cancelled.Scotland's biggest airline, Edinburgh-based Flyglobespan, has been placed in administration with all scheduled flights cancelled.
Administrators PricewaterhouseCoopers said Globespan was in contact with about 5,000 passengers booked with or travelling with the airline.Administrators PricewaterhouseCoopers said Globespan was in contact with about 5,000 passengers booked with or travelling with the airline.
Last year the airline, which employs about 800 staff, carried more than 1.5m passengers and operated 12,000 flights.Last year the airline, which employs about 800 staff, carried more than 1.5m passengers and operated 12,000 flights.
The majority of the company's staff have been made redundant.The majority of the company's staff have been made redundant.
The move followed attempts to conclude a financing deal for the airline with Jersey-based Halcyon Investments which broke down today. The move followed attempts to conclude a financing deal for the airline with Jersey-based Halcyon Investments which broke down earlier on Wednesday.
We would strongly advise those passengers who had expected to travel tomorrow to remain at home or make alternative arrangements as there is no prospect of their planned flight taking place Bruce CartwrightPricewaterhouseCoopersWe would strongly advise those passengers who had expected to travel tomorrow to remain at home or make alternative arrangements as there is no prospect of their planned flight taking place Bruce CartwrightPricewaterhouseCoopers
In a statement tonight, the administrators said the Civil Aviation Authority (CAA) would be responsible for the repatriation of those who have booked flights as part of a Globespan package holiday. In a statement tonight, the administrators said the Civil Aviation Authority (CAA) would be responsible for the repatriation of about 1,100 people who are on holidays booked as part of a Globespan package holiday.
Passengers who had booked through a travel agent were advised to contact that agent. However, a further 3,400 people are overseas and are not protected, who booked directly through flyglobespan.com.
Customers who booked Flyglobespan flights directly via the Flyglobespan website or the call centre would not be protected.Customers who booked Flyglobespan flights directly via the Flyglobespan website or the call centre would not be protected.
However, those who paid with a credit or debit card were advised to contact their card issuer. There are also 27,000 people who have future flights booked through the ATOL insurance scheme, and around 90,000 people who have forward bookings but have no ATOL protection.
They may be protected under their own personal travel insurance or through their credit card transaction.
Bruce Cartwright of PricewaterhouseCoopers said: "Unfortunately I am obliged to confirm that, the Group will not longer be able to operate flights.Bruce Cartwright of PricewaterhouseCoopers said: "Unfortunately I am obliged to confirm that, the Group will not longer be able to operate flights.
"Our focus right now is on assisting those passengers who need to complete return journeys and communicating with those who have future reservations."Our focus right now is on assisting those passengers who need to complete return journeys and communicating with those who have future reservations.
Operating profitOperating profit
"We would strongly advise those passengers who had expected to travel tomorrow to remain at home or make alternative arrangements as there is no prospect of their planned flight taking place.""We would strongly advise those passengers who had expected to travel tomorrow to remain at home or make alternative arrangements as there is no prospect of their planned flight taking place."
On the Flyglobespan website its Christmas and New Year schedule showed flights to Tenerife and many other winter holiday destinations from Edinburgh, Glasgow and Aberdeen.On the Flyglobespan website its Christmas and New Year schedule showed flights to Tenerife and many other winter holiday destinations from Edinburgh, Glasgow and Aberdeen.
Earlier this year, Flyglobespan announced it had made an operating profit of £1.2m following a loss of £19m the previous year.Earlier this year, Flyglobespan announced it had made an operating profit of £1.2m following a loss of £19m the previous year.
Set up in 2002, the company operates from five UK airports, including Prestwick, Edinburgh and Aberdeen.Set up in 2002, the company operates from five UK airports, including Prestwick, Edinburgh and Aberdeen.
Earlier this year, it pulled its services out of the Durham Tees Valley airport, blaming the worsening economic climate.Earlier this year, it pulled its services out of the Durham Tees Valley airport, blaming the worsening economic climate.
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