Flyglobespan rescue deal not completed
14.12.09
Concern is mounting over the future of Scottish airline FlyGlobespan, which has not yet received promised funds from an investor in a rescue deal announced last month, the Guardian reports. The airline says it is waiting for ‘regulatory approval’ before the deal can be completed.
Globespan Group, a privately owned holiday firm behind FlyGlobespan, is reported to have been on the brink of calling in administrators a month ago. It managed to keep going, however, announcing the business had ‘successfully secured a financial investment package that will see Scotland's leading airline continue to prosper and grow’.
However, this weekend Globespan confirmed to the Guardian that the deal was still blocked because it needed to be approved by regulators. It said in a statement: ‘Globespan is on the verge of successfully concluding a major investment from Halcyon Investments.'
Halcyon is reported to be a Jersey-based investment firm controlled by E-Clear, an online credit card payment processing business with several smaller European airlines among its clients, including FlyGlobespan.
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book edinburgh airport hotel or edinburgh airport car park at the lowest price, click on these links to two great edinburgh airport car parking and edinburgh airport hotel price comparison pages.
