Flyglobespan rubbishes rumours of collapse

Flyglobespan, Scotland’s largest airline carrier has rubbished rumours that it is on the verge of bankruptcy. The company has specified that instead, it is on the verge of receiving a major funding package from Halycon Investments Limited. The funding is required for major expansion plans that the airline has in mind. Also associated products and services will obtain up gradations. The Edinburgh based company has reported that the investment package is soon to be completed only regulatory approval was needed.

The company has released a statement saying they were satisfied with Halycon Investments helping out Flyglobespan and is proud to be highly recommended in the Scottish travel market.

Tom Dalrymple, Chief executive Chairman for the airline, was excited about the prospects for the company, customers and staff.

For the current financial year, Flyglobespan has recorded a profit of 1.2 million pounds. In comparison to last year, the company showed losses of 19 million pounds.

Flyglobespan initially operated in only five airports in the UK. This included Glasgow, Edinburg and Aberdeen. The airline started its operations in the year2002. Currently Flyglobespan spans across popular destinations such as Spain, Portugal and Turkey. It also has flights to far off destinations such as Egypt and Florida.

The airline however withdrew services from Durham Tess Valley airport due to the volatile economic climate in 2009.