It seems that yet another airline has finally met its end due to the tough economical times. This time over 4,000 British holidaymakers have been left stranded abroad following the collapse of Scotland’s largest holiday charter and budget airline, Flyglobespan.

Another 117,000 people who have booked Christmas breaks with this airline will now have to miss out on their holiday travels since most other airlines are all booked up for this season already. The 800 plus staff that worked for the airline will also be feeling very blue this Christmas since they are now unemployed.

Out of the 117,000 people who booked flights with the airline, only 27,000 of them booked travel packages and, thus, are entitled to refunds. However, another 90,000 of them, who booked flights only are expected to lose what they paid. The people who paid online using debit cards are most likely going to lose their money. People who paid with a credit card or those who booked with an ATOL bonded travel agents are likely to get some kind of refund on their money.

The bulk of the carrier’s flights operated from Glasgow, Aberdeen, and Edinburge. They served many Mediterranean resorts, and the carrier even had a few long haul destinations in Florida and Egypt. Speculations about a possible closing of the airline were risen earlier in the week. However, the airline went on to deny these reports and said that they were close to getting a funding package from Halcyon Investments, which is a Jersey-based corporate financing firm. This deal fell through, thus the airline fell apart.