Originally Posted by
chesna152
I haven't had time to read the report in detail yet, however from your quote I would presume the 'aviation division' encompasses Carlisle which could account for that loss figure. As I understood it Southend, on day to day operations at least (I'm not sure where servicing the debt is factored in) will turn a small profit at the end of the financial year.
The 12 month EBITDA profit is £1.1m but quoting this is effectively meaningless. It's a bit like a shop saying we made a profit just as long as we don't include the cost of renting the shop.
I can't see that Carlisle impacts upon the figures in any way as the costs for the skeleton staff there are far outweighed by the headcount at Southend.
The revenue per pax seems pretty good but profit per pax is sadly missing. A split between fixed and variable costs will show the breakeven point in pax numbers but from all the talk of a target 2.5m pax by 2018, I am confident that the target is the breakeven.
Only time will tell but every time the figures are published it seems to be another disappointing story.