Torres
Given the evidence and the abundance of strolling adventurers of no fixed percentage, why would we be surprised.
Small Airline Economics 101.
Rule 1. There always has to be more cash coming in than going out.
Rule 2. Thou shalt not use the employees entitlements as capital or loan
funds.
Rule 3. Thou shalt apply the 'Torres' function to your cash flow projections and have a minimum of 4 months operating cash in the bank at all times.
Rule 4. Said operating cash must be real unencumbered cash otherwise know as CAPITAL.
Rule 5. Thou shalt not exceed a debt to real unencumbered equity of a minimum of 1.5 : 1.0 at all times.
Rule 6. There always has to be more cash coming in than going out.
Rule 7. Smoke and mirrors marketing projections and statistics are to be banned and forever forsworn from the precincts of the organisation. They are either there or they are not. The entire population of Bullamakanka is not going to travel weekly to anywhere.
Rule 8. Like the Real Estate maxim of location, location, location, frequency, frequency, frequency will be your watchword lest your market discover the convenience of the motor car.
Rule 9. The business is about passengers, their transport needs and profit stupid, not providing employment for pilots and playground for aviation enthusiasts or cash flow for other pursuits.
Rule 10. Thou shalt not make the punishment fit the crime in the selection of aircraft equipment and all times hold in your view that you are effectively owned by the community that you serve and that they will sell you down the river if you dont.