It's "D: All of the Above"
Thank you, Henry. As a line pilot, I am able to relate to you only what I see, hear and think, but I am not privy to all. I believe that the problem is all of the above: incompetence, mismanagement, management extravagances, thievery and poor management controls. For example, we have heard numerous times that Sales is paid commissions for selling the trip, but nobody seems to be responsible for actually collecting the revenues from the customer; therefore, Sales has incentive to sell but not much interest to actually recover the money. Accounting, cash management and controls are said to be lacking - and quite obviously are, when the staff accuses the management of misuse of funds while management publicly accuses the staff of stealing all the money.
We have had many trips wherein the passenger was forced to pay cash from his pocket for hotel, ground handling or catering fees in order for us to depart, rather than waiting for the head office to somehow resolve the situation. It always seems like there is no cash in the system but, when push comes to shove, both Sales and CFO have safes in their office with stacks of cash. We have received cash in places like Riyadh and Amman from unknown persons in large vehicles stopping us on the street, saying "Are you Captain so-and-so?", placing an envelope with Euros 30,000 and more into our hand, then driving off without even asking for a receipt. And then people wonder why the rumours of money laundering, cash conduit to terrorist groups, etc. go around?
Never any cash for predictable needs, such as operating costs and payroll but, somehow, when an aircraft is arrested somewhere or the flight is unable to continue, wads of cash magically appear. Followed by the CEO claiming that he paid for everything from his own personal funds. Well, where did those come from, in such amounts, in cash?
All I can tell you is that the aircraft seem to be utilized as much as a management shuttle as for clients, that while we have not been paid in three months our CEO has a huge new home, seven new luxury automobiles and, when not flying on company aircraft, the entire management fly first class and stay in the most fancy and expensive hotels wherever they go. This appalling lack of leadership by example is not only demoralising, but also removes any incentive from the employees to care about cost savings, efficiencies, etc.
We just want the company to be run like a business, we want to be proud of our company and our role in its success, and we want to be paid - contrary to the claims of CEO who thinks that we are all Americans, we all steal from the company and we all want to destroy the company. Sadly, the leadership is entirely self-serving, short-sighted, negative, incompetent and counterproductive in the face of good market positioning and hardworking employees who want the company to succeed.