It's that time of year again... airline earnings season. The best place to keep track? Holly Hegeman's Plane Buzz.

Mesa already announced a $81.561M loss, which wasn't exactly a surprise. Then again, anytime Jonathan Ornstein loses, people rejoice. Including me. I'd tell you what I think, but he might sue me. That's how he works.

Of course, I'm most interested in what happens with AMR. They'd expected to post a full year profit and possibly pay out profit sharing, but I don't think that's going to happen. Fuel prices were simply too brutal. So were some of the December storms, and most airlines decided to sit aircraft down and cancel flights rather than try and operate a schedule (thanks to all of you who support passenger bill of rights legislation...).

So, start watching the wires around the time the market opens tomorrow morning. It's gonna be ugly.