Button wrote:I'm having difficulty keeping in mind (now that I've spotted it) that there are two similarly-named entities: P&O Ferries Ltd and P&O Ferries Division Holdings Ltd (its parent and which has a range of other "children"). I'm assuming that the villain of the moment is the parent. Company accounts are not my forte but those for 2020 and previous are available on-line for both entities. If I read them correctly, whereas the parent has been running at a loss, this particular child has been profitable. Happy for correction or confirmation from Ray on the entities and finances.
Short answer is 'I don't know'. Without detailed research, my guess would be that P&O Ferries is a wholly owned subsidiary of P&O Ferries Divisional Holdings Ltd. which in turn is owned by DP World. Holding companies are commonly used to protect other assets (e.g. property) with an intrinsic market value, from the ups and downs of the trading entity. Also, of course, profits and losses can be set against each other as best suits the ultimate beneficial owner - in the case DP World. I suspect that is the case here.
P&O Ferries will be even deeper in the mire if they are unable to operate during the peak Easter period.