GGM,
Depends what you mean by "loss making". The balance sheet has occasionally shown a loss and the years when a profit is shown it is normally not a large one. HOWEVER, one does not get to the Bish's position in the rich list by running a company for 30 years that has never made money. The bloke (and the other private shareholders) are worth millions, between them they have ownership of several off-shore leasing companies that own, outright, a large numbers of bmi aircraft and other assets. I believe that two more 321's have recently been purchased from the original leasing agents to add to this portfolio. That and other legal scams mean that huge amounts of money vanish out the back door before they hit the bottom line, (Donington Hall lease charges, Jersey Handling, Fokker engine leases etc. etc.). At the moment operating margins and profits are under huge pressure but there is no shortage of money sloshing around and never has been.
Tony M.,
Quite correct, an accurate summary of the situation the company is in. Nothing will change with the current upper managment in place and while we are still run from the sleepy hollow of Donington Hall (no Little Blue I don't mean ops.). The parochial, and out of touch attitude that pervades up there along with 1950's style admin. has shackled the company for years.
Last edited by Max Angle; 4th Dec 2003 at 18:43.