Given the present facts and future potentials, I think the future of Express has come into question by several friends (pilots for other carriers). All of which think once the branded "two year experiment" as one put it, is over, XJT will see furloughs and massive downfalls with the loss encountered from opening, marketing, and operating (SG&A) their own airline. Given the facts such as the 69 planes which were "pulled" by CAL, 18 went to DAL, nine went to XJT charter, and 42 went to ExpressJet Airlines branded flying. Revenue fell over 50% in the first quarter, but profitability was still able to be sustained. XJT's gross margins are top tier next to SKYW (18.5% v. 21%). Quarterly rev has increased at a rate of 5%, whereas SKYW is around 6%, and MESA is holding at 7% (although they experienced a $200M loss in the first quarter). Believe it or not, XJT's operating margins are actually at the bottom of the tier (SKYW 10.7%, RJET 18.5%, MESA 5.7%, XJT 8.4%). The higher the number here, the better. Less the financial mumbo jumbo, guys like Captain_Bob and FlyChicaga see what's going on from a day-to-day view and probably have a very good insight to what is happening with XJT and some of their flying - which I believe some just went to Republic. Discuss..