The frankly astonishing losses posted by DLH lead me to believe that the beancounters are up to something. Given that the operation (the sharp end) has been undergoing the restructuring programme for the last 18 mths or so in order to SAVE costs, I find it difficult to beleive that the operating losses have practically doubled in that time
I suspect that when bmi changed from being a privately owned limited company to a subsidiary of a publicly listed group a lot of accounting practices changed to bring them into line with the rest of the group. Nothing sinister as such, just a reflection of the change in ownership.
As for losses, the traffic numbers keep showing year on year falls in passengers that are in excess of capacity cuts.