*BREAKING NEWS* Fly Globe Span go into administration

It has just been announced that Glasgow-based airline Globespan has gone into administration. PriceWaterhouseCooper has been appointed as the administrators and a further announcement is expected soon concerning the collapse of Scotland's biggest airline.

This is a blow for thousands of passengers who have already booked flights with the airline who operates out of Aberdeen, Edinburgh, Glasgow, Cardiff and Belfast airports. The airline flies two return flights a week from Edinburgh to Geneva, so clearly this news will affect people intending to travel out to Geneva and onto ski resorts this winter with Globespan.

Anyone who has booked a flight directly with the airline may very well end up losing the money, unless the booking was made using a credit card in which case customers may be able to approach their credit card company for a refund. Those booking package holidays which includes flights on Globespan should be covered by their tour operator through ABTA.

Globespan, which started operating flights in May 2002 has a fleet of 10 Boeing aircraft and had even placed orders for two Boeing 787 dreamliners. The airline, which flew a total of 1.5million passengers and operated over 12,000 flights, announced a £1.2million profit earlier this year, but also pulled out of Durham airport blaming the downturn in the economy. It has been reported that negotiations with Jersey-based Halcyon Investments to take over the company fell through earlier today, resulting in the administrators being called in.

At the time of writing, the Globespan website is still up and running, offering special Christmas deals on flights. We'll bring you more news as we get it.

Are you due to fly out with Globespan to Geneva or do you work for the company? Email and let us know your experience...