While we still took a loss, this is all pretty promising. Fuel prices rose $38M since last year's 3Q, not to mention Branded flying is still growing and is still sucking up startup costs. If Branded keeps its upward trend (i.e. higher load factors as shown in this report) and costs associated with its startup can be cut, I'm very confident that we'll post a profit very shortly. The cost of oil spiked during this last quarter, which also hurt our bottom line (and the bottom line of every airline out there).
Don't just read the loss. Look at the trend, and the trend is looking up.