While the loss might have been doubled by wall street estimates, our operating revenue was $34M more than expected by those same analysts (and slightly exceeded 3Q 2006's numbers). Again, lingering Branded startup costs and soaring oil prices have everything in the world to do with that.

My eyes aren't only on Branded, by the way. Right now my attention is on developments with CAL, especially the possibility of a longer term pro-rate deal with them that would release us from that CPA, thereby allowing us to diversify with flying from more airlines. That's where I think the future is going to lie.