I hate spin and playing with numbers to make dreadful numbers look good. I understand that to get funding the CEO has to come as close to being dishonest as he can without actualy telling a lie. The airline has expanded too quickly. It should be getting the first service profitable before moving on. At the end of working with one plane it managed 80% load factor. Adding extra planes too fast means every sector is making a loss. The oil price is very high so the airline should be waiting to expand to when or if the conditions get better. I do feel sorry for the staff who have joined an airline that has started at just the wrong time.