Globespan Airlines Collapses

News reached us this afternoon of the collapse of Scotland's biggest airline, and its associated tour operator, Globespan.

Trading under the Flyglobespan banner, the Globespan airline has been operating a fleet of Boeing 737, 757 and 767 aircraft from the UK to holiday destinations in Europe, as well as to Canada.

Earlier this week it was reported that the group was expecting to receive a funding package from Jersey-based Halcyon Investments. However, it now appears that the possible rescue has arrived too late, as staff of the airline were informed of the appointment of administrators.

Halcyon Investments is understood to be controlled by e-Clear, the credit-card merchant acquirer for Globespan, who were also providers of card clearing for other recent airline failures, XL Airways and Sky Europe.