mismanagement is a problem at culligan, but not the biggest culprit. PCL is fee for departure, colgan isn't except for the q400 operation. Colgan takes home all of the ticket revenue for the seats it sells, but it also incurs all the costs like fuel, ticket sales etc. EAS and the airways flying are kicking our butts right now. Colgan is eating the cost on the fuel, and that why they are rebidding the EAS contracts. Our airways contract is up in Nov 08 i believe. Expect to see some changes there. Repos, crew movements, fuel, all that adds up. Colgan always operated on a small margin to begin with. read the last 10Q page 35:

http://library.corporate-ir.net/libr...267970/10Q.pdf

if you read page 36 it also says that pcl pilots are paid below industry wage and it's of the utmost importance for pcl to reach an agreement with alpa, lol. I can't believe the SEC lets them file some of this stuff