Suitcase - Agree both points. However, any savvy businessman would sooner make a profit and pay some tax, than make a whacking loss and get a tax rebate on those losses. The tax deductibles are merely the silver lining around the black cloud.
Sort of a thread drift, but in reality this company (Luxaviation) is right in the middle of this market and the business plan seems to be wholly reliant on growth. There is no real growth in this market anymore, so it simply buys up competitors to achieve this growth.
The AOCs thing is fascinating and maybe telling too. Lots of layers of expensive management. Normally mergers / takeovers result in streamlining to get efficiency. This seems more like a franchise but with the subordinate companies keeping their own identity. All very odd.