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Globespan The Next Airline To Go Under?  
User currently offlineLimestone From United Kingdom, joined Sep 2008, 1 posts, RR: 0
Posted (5 years 11 months 3 weeks 6 days 18 hours ago) and read 6378 times:

I'm due to fly with Globespan next month. Will they be the next airline to go under??

http://www.independent.co.uk/news/bu...ey-on-airline-collapse-944661.html

14 replies: All unread, jump to last
 
User currently offlineDangould2000 From UK - Scotland, joined Dec 2005, 172 posts, RR: 0
Reply 1, posted (5 years 11 months 3 weeks 6 days 2 hours ago) and read 6092 times:

I'm sure it's safe (but if you can, try to find some 1p flights with FR, just as a backup)



if they don't go out of business, i owe a colleague £20  duck 



Next Flights:- wherever the airline sends me
User currently offlineSmokeyrosco From Ireland, joined Dec 2005, 2112 posts, RR: 13
Reply 2, posted (5 years 11 months 3 weeks 6 days 1 hour ago) and read 5973 times:

I was looking at my options of flying DUB - YVR next year and thats one of them. Not really sure I have faith in spending my money on them

I probably won't book until the new year anyway so hopefully we'll have a better idea then.



John Hancock
User currently offlineCarledwards From United Kingdom, joined May 2004, 262 posts, RR: 0
Reply 3, posted (5 years 11 months 3 weeks 6 days ago) and read 5888 times:



Quoting Smokeyrosco (Reply 2):
I was looking at my options of flying DUB - YVR next year and thats one of them. Not really sure I have faith in spending my money on them

I probably won't book until the new year anyway so hopefully we'll have a better idea then.

I don't like to be a sceptic when it comes to airlines, however because this is so far in advance and involves a LCC I would have to agree this is a good move for a long haul flight, considering they generally cost a lot more than the short haul legs. Maybe book onto a standard legacy carrier instead if you can find some cheaper fares, in case they go up nearer the time, or book the globespan flight through an ABTA / ATOL bonded travel agent if any of them are selling globespan?

However I hope for the sake of low cost travel to Scotland that flyglobespan do not go, at least not for now, in a market where the competition is getting less and less due to the recent collapses of both XL and Futura. Lets try and keep them flying!



Directoria
User currently offlineCwldude From United Kingdom, joined May 2006, 691 posts, RR: 1
Reply 4, posted (5 years 11 months 3 weeks 6 days ago) and read 5847 times:

I've thought for a while that they'd go bankrupt! At least before Zoom did, I just don't understand how they make money when they've got such a bad reputation and a similar business stratergy to that of Zoom!

They've cut a lot of loss-making routes lately though, but is it too little too late?



Thomson Airways - The UKs premier charter airline // now flown : BY -AA -AJ -AE -AT; OO -AX -AU -RA -BG; BRIG; OBYD
User currently offlineFly_yhm From Canada, joined Dec 2000, 1681 posts, RR: 10
Reply 5, posted (5 years 11 months 3 weeks 5 days 23 hours ago) and read 5796 times:

they seem to continue to be doing well out of YHM. They do have full market share here as they are the only airline flying across the pond from YHM. Based of this I hope they dont go under but if they do then I hope they have another carrier come and take over here for them.


Where will you spend eternity? He,s more real then you think!!!!!
User currently offlineNaritaflyer From Japan, joined Apr 2006, 549 posts, RR: 1
Reply 6, posted (5 years 11 months 3 weeks 5 days 22 hours ago) and read 5663 times:

Can someone describe their fleet as of today? They have some 757s and 767s if I recall.

User currently offlineRdwootty From United Kingdom, joined Sep 2005, 904 posts, RR: 2
Reply 7, posted (5 years 11 months 3 weeks 5 days 21 hours ago) and read 5616 times:

The complications of bonding need to be checked as you are flying from DUB and you should book with an agent in the Irish Republic as the ATOL scheme does not apply to Irish passengers who book originating flights. Suggest the best bet would be to ask a few agents and if they all say they will not book then you have the answer

User currently offlineBA319-131 From United Kingdom, joined Jan 2001, 8546 posts, RR: 54
Reply 8, posted (5 years 11 months 3 weeks 5 days 20 hours ago) and read 5512 times:
Support Airliners.net - become a First Class Member!

There was a whole thread on this in the last week/10 days, seems they will survive.

For more info, a simple search should find it.

Suggest closure of this topic.

Rgds



111,732,3,4,5,7,8,BBJ,741,742,743,744,752,762,763,764,772,77L,773,77W,L15,D10,30,40,AB3,AB6,A312.313,319,320,321,332,333
User currently offlineDaleaholic From UK - England, joined Oct 2005, 3208 posts, RR: 13
Reply 9, posted (5 years 11 months 3 weeks 5 days 20 hours ago) and read 5446 times:

I heard from a reliable source that they are extremely close to going under. Wouldn't surprise me to be honest.


Religion is an illusion of childhood... Outgrown under proper education.
User currently offlineNaritaflyer From Japan, joined Apr 2006, 549 posts, RR: 1
Reply 10, posted (5 years 11 months 3 weeks 5 days ago) and read 5146 times:

Do they have to file their financial statements with any authority? If so, then it should be easy to verify their financial health.

User currently offlineHumberside From United Kingdom, joined Dec 2005, 4920 posts, RR: 4
Reply 11, posted (5 years 11 months 3 weeks 4 days 23 hours ago) and read 5105 times:



Quoting Naritaflyer (Reply 10):
Do they have to file their financial statements with any authority?

Companies House, but they wont be up to date

This is the problem with private airlines, up to date financial data is not available and therefore very hard to work out their true financial position



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User currently offlineEgmcman From United Kingdom, joined Jun 2005, 898 posts, RR: 8
Reply 12, posted (5 years 11 months 3 weeks 4 days 20 hours ago) and read 4993 times:



Quoting Humberside (Reply 11):
Companies House, but they wont be up to date

I work in the insolvency / companies liquidation business they do update records on companies as to how often I have no idea.

Once a company goes into liquidation advertisements are made and creditors are contacted. I believe companies file their accounts a least once per year.

Quoting Humberside (Reply 11):
This is the problem with private airlines, up to date financial data is not available and therefore very hard to work out their true financial position

Unless you work in their accounts department or for their auditors but then you there would be a clause in your employment contract about revealing sensitive information.


User currently offlineNaritaflyer From Japan, joined Apr 2006, 549 posts, RR: 1
Reply 13, posted (5 years 11 months 3 weeks 4 days 4 hours ago) and read 4854 times:



Quoting Humberside (Reply 11):
Companies House, but they wont be up to date

This is the problem with private airlines, up to date financial data is not available and therefore very hard to work out their true financial position

Thank you. I got it. Globespan shows a loss of 19.3 million pounds at year-end October 31, 2007. With oil price being much higher in 2008, I assume the loss in 2008 was higher as well. Looks to me this company has no chance.


User currently offlineHumberside From United Kingdom, joined Dec 2005, 4920 posts, RR: 4
Reply 14, posted (5 years 11 months 3 weeks 3 days 22 hours ago) and read 4712 times:

GSM had major problems in 2007, expanding too fast and had lots aircraft going tech, trashing their reputation and taking a lot of money to sort out. Problems that havent been repeated on anywere near as large a scale this year


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