FlyGlobespan – attention turns to travel technology partner EClear
In a statement, PricewaterhouseCoopers, the administrator appointed to handle the financial affairs following FlyGlobespan’s demise on Wednesday 16 December, says it is “shifting much of their focus” to the business activities of the company.
EClear is a UK-based credit card processing technology firm which worked with FlyGlobespan to handle online customer payments, but has now found itself at the centre of growing concern that the airline was owed substantial monies by a number of third parties.
Prior to PWC’s announcement, Tnooz attempted to obtain clarification from EClear officials, including chief executive Elias Elia, about its relationship with FlyGlobespan parent firm Globespan.
Messages have so far not been remained unanswered.
PWC says the airline was owed around £30 million by third parties – although the BBC is reporting Scottish finance minister John Swinney as saying the figure is closer to £34 million just from EClear alone.
“Having only been appointed last night we are currently investigating the position, and will be proactively taking action to recover funds due to at the earliest opportunity.
“This includes any monies that we identify as being due from Eclear, Globespan’s credit card payment processing company, in excess of any amounts that they are contractually entitled to. However, our priority remains to refund customers who paid by credit card.”
EClear was formed in August 2002 in London and is a regular attendee on the travel technology exhibition and conference circuit in the UK.
The company’s most up to date set of accounts were filed in London in February 2008.
Companies House, a database of registered firms in the UK, says the company is “overdue” on a submission required by August 2009.
In an interesting twist to the story, EClear has interests in a Jersey-based investment vehicle known as Halcyon, which just three days ago was reported to be interested in investing in (and seemingly throwing a lifeline to) Globespan – a development which clearly never saw the light of day.
Kevin May is a senior editor and one of the co-founders at Tnooz. He was previously editor of UK-based magazine Travolution and web editor of Media Week UK from 2003 to 2005.
He has worked in regional newspapers (Essex Enquirer) and started his career in journalism at the Police Gazette at New Scotland Yard in London. He has a degree in criminology, a postgraduate diploma in magazine journalism and publishes his first book - a biography about electronic band, Depeche Mode - in 2015.