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Post by Humberside on Nov 15, 2009 12:14:39 GMT
Administrators were almost called into FlyGlobespan on Friday due to a cash flow problem caused by their credit card processing company delaying payments. They have become cautious after the collapse of SkyEurope and may have financial problems themselves. GSM managed to secure last minute funding but it is unsure if this will see them though long term. While the credit card company are partialy responsible, it shows that GSM's cashflow position isn't very good either In some sense this reminds me of why Frontier went into Chapter 11 www.independent.co.uk/news/business/news/lastgasp-cash-keeps-airline-flying-ndash-for-now-1820805.html
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Post by Humberside on Nov 16, 2009 15:52:25 GMT
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Post by Humberside on Dec 14, 2009 13:31:02 GMT
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Post by Humberside on Dec 16, 2009 18:01:12 GMT
Being widely reported now GSM are in administration
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