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Globespan grounded

Globespan Group, the operator Scotland’s biggest airline, has been placed into administration.

The airline, founded by entrepreneur Tom Dalrymple in 2002, has ceased trading, leaving several thousand passengers stranded.

Bruce Cartwright, Graham Frost and Ian Oakley-Smith at PricewaterhouseCoopers (PwC) were appointed as joint administrators to The Globespan Group plc and Alba Ground Handling Ltd on 16 December 2009. In a statement they said it is likely that other group companies including the airline which operated as Flyglobespan would be placed into administration on 17 December 2009.

The statement continued: “The companies entered into Administration having suffered liquidity issues.

“Unfortunately, the Joint Administrators have been unable to continue trading the companies and therefore all flights operated by The Globespan Group plc or Globespan Airlines Ltd have been cancelled and the aircraft grounded.”

A rescue deal with Jersey-based Halcyon Investments is understood to have fallen through yesterday.

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