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Scotland’s largest airline, Flyglobespan, closed down Wednesday 16 December, with 800 jobs lost and 4,500 travelers stranded, most of them in Spain, Portugal, Cyprus and Egypt, according to the BBC. The company flew 1.5 passengers in 2008. The Scotsman reports that thousands more people have flight reservations with the airline and not all will be able to get their money back. Iata (International Air Traffic Association), at an annual media conference earlier this week said that while major airlines are not expected to fail in coming months, smaller airlines are “fragile” and not all will survive a financially rough 2009, which comes at the end of a decade where the airline industry ended with losses eight years out of 10.

Links to other sites: BBC, Flyglobespan, Iata, The Scotsman