Unfortunately, some posters on here seem to miss the fundamental point I am trying to make. For a business to be successful it has to grown in a controlled way. If it is not growing and revenue is falling or static it needs to ruthlessly keep control of costs in order to maintain its margin (or reduce losses).
As pointed out PIK was regarded as a white elephant but has managed to grow revenue (which is significantly higher than CWL), pursue diversification (carving out some niches) control costs and turn a profit. Even in a ‘good’ recent year CWL’s EBITDA was, what £77k ! So my point was - find your own niches, search them out, then as OC states, go knocking doors relentlessly (metaphorically speaking). I have still yet to see CWL management state anything about cost focus and steps they are taking to address these, beyond furlough, with the business/industry estimated to take 3-4 years to recover.
The high level point point I was making about PIK is that you carve out and make your own success with the assets you have - it’s not all down to pax airlines turning up.
Anyway, clearly flogging a dead horse here as clearly some people think a £77k EBITDA on £18m t/o = management doing a fantastic job.
BTW - I don’t count the WG as proper scrutiny - most of these politicians have never worked in the real commercial world and if you take a look at their questioning in committees of CWL management - this clearly shows.
Last edited by TOM100; 18th Aug 2020 at 05:28.