For Republic Airways Holdings’ CEO Bryan Bedford it was an uncomfortable and unusual duty: reporting a net loss of USD36.5 million for the first quarter of 2010. This was the first quarterly loss for the company since 9/11; that was then followed by 32 consecutive quarters of profitability, which, Mr Bedford claimed, “is among the best track records in the industry.” Even so, it was the branded operations that dragged down the Republic results but with the merger announcement between United and Continental, the CEO said it remains clear that the rationale for purchasing both Midwest and Frontier is justified. The company is now modestly bullish on the outlook.