Alloy -
There seems to be confusion here between the P&L and Balance Sheet.
'Profit' is an art form. You can make it say more or less what you want (and since it's what you pay tax on, you minimise it).
The Balance Sheet is nearer to the truth, but far more complex. That's where the £50m for a new aircraft goes (unless it's on an operating lease). It doesn't come out of profits.
To judge when a business is failing, look out for delayed payments to suppliers, doing deals with new or unstable customers or suppliers, and panic cost-cutting.