Its your voucher sellers which are killing it.
I thankfully managed to get the boss to refuse them while I was working as a FI, The whole red letter day thing was a bloody con shafting the punter and the school.
It worked great for us as we pretty much had a monopoly in the area.
The voucher company's were extremely aggressive they didn't have a foot in the market in the area. The boss eventually gave in after I left. Ended up converting 100-200 hours from what once was profitable work into covering costs/slight lose for no real return.
The argument it a lose leader is a pile of bollocks. You don't convert a fraction of the agency vouchers compared to the self sold vouchers.
yes your flying hours may go down slightly but realistically you will have less work and higher conversions and more importantly more profit by having nothing to do with these agency's. They are a cancer.