The report does not mention collapse at any point and is merely reporting on the latest results.
The Chief Exec reports that the expansion was aimed at laying the foundations of further profitability in future years, It was recognised that such an ambitious expansion would involve a significant financial risk to the business.
The group was seeing “very significant” financial benefits from the route expansion in the current financial year to the end of March 2007, as the network matured.
As with any business you need to read the financial results yourself as the report does not mention them in detail.