"Peel appears to have spent nearly £5 million pounds at the airport since their takeover and must be subsidizing the running costs on a month to month basis."
The issue that I see as becoming more of a reality is one where it is "less expensive" to retain a loss making business in the short to medium term as opposed to the expense of closing it down. Who knows what asset valuations are attributed on the Peel Holdings balance sheet to DTV. Perhaps there are a few "intangibles" in there that may cause some embarrassment should DTV cease to trade....
Parsnip I note your comment that DTV is "Very small Potatoes" & accepting that it takes "one vegetable to know one"
, I feel that in this case this a more sentiment comment than knowledge. Well run companies large or small run their business based on cost centers & constantly review individual profitability, & in DTV's case perhaps they are simply deferring losses. I can't see them in any way ignoring them based upon some overall materiality argument.