Flyglobespan denies being on brink of collapse

Edinburgh-based Flyglobespan has reportedly denied reports that it was on the “cusp of collapse”.

The company, according to bbc.co.uk, issued a statement, saying talks about a major funding package from Halcyon Investments Ltd were continuing. Flyglobespan said the investment package was subject to regulatory approval but was about to be finalised. The deal, said the group, would allow it to expand its airline and associated products and services. 

A statement from the airline said: “Globespan confirmed that their proposed investment from Halcyon is still in progress and both parties are committed to reaching a positive outcome. We expect that the Halcyon Investment into the Globespan Group will be finalised following regulatory approval. Both parties are keen to bring this to a successful conclusion and are totally focussed on making that happen.”