As a private company the accounts they file are a bit limited, but for 2009/10 total losses increased from €16m to €64m, this is on a base of €293m revenue. yield dropped by 18%, and the operating loss - which is of most interest, was €55m. On The balance sheet its net assets are €158m, and it owes €130m to airfrance. The assets are quite high as it owns over half of the rj85s, and only leases 12 of them I think.
Overall that's not a good result, but that's to be expected given it's exposure to the city.
As for the comments on airlines running these schemes to make money, i would have thought that's a bit far fetched. It wouldn't make that much money for an airline, if any considering the costs of running a recruitment process. the problem is that with nearly a 2 year lapse between deciding to set up a cadet scheme and pilots making it onto the line the world may have changed. Typically, Airlines are pretty bad at making recruitment judgements.