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Trauma in the travel sector

Flyglobespan was Scotland's biggest airline. Based in Edinburgh, it entered into administration all too suddenly on 16 December 2009 in rather curious circumstances involving several million pounds owed to it by its receipts-handling company. Flyglobespan's advice notice to customers, posted on its website at the time of its collapse, can be used as a typical and now all too familiar example for the 13 or so travel firms that have gone bust since:
Aug 24, 2010

To Russia with relief

Along with one of the biggest write-downs in British corporate history, BP announced on Tuesday 27 July 2010, that its Chief Executive Officer, Tony Hayward, is to step down on 01 October. He will be replaced as CEO by Executive Director and the company's current head of US operations, Robert Dudley.
Jul 29, 2010

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