Gulfstream International Group Inc. (AMEX: GIA) operates through two subsidiaries, Gulfstream International Airlines Inc. and Gulfstream Training Academy Inc., as a commercial airline for destinations throughout Florida, the Bahamas, and select cities to Continental Airlines in Cleveland, Ohio. The company's Academy offers flight training services to licensed commercial pilots.

GIA recently received a Speculative Buy rating, with a price target of $4.25, by Taglich Brothers Inc. The rating was based on the company's operations, management, financials, industry and outside influence and more.

While GIA will not post profits for fiscal 2008, Taglich said it believes the company is positioned for a significant turnaround in earnings for 2009. This forecast centers on GIA's revamped business strategy, as well as estimates that jet fuel prices will drop around 50% in 2009, as compared to 2008 prices.

The company's revised business plan includes, but is not limited to, the reduction of flight capacity by 39.9% through the sale of its fleet of eight Embraer aircrafts, as well as the restructuring of its route network. The company will now operate through a single fleet, which is expected to enhance its operating efficiency while lowering costs.

GIA also implemented an 18.9% increase in its average ticket prices in the third quarter to offset rising fuel prices, and eliminated destinations that were subject to high fuel prices. Through these, and other cost-saving and forward-moving strategies, Taglich estimates GIA will post revenues of $104.4 million and report a net loss of $9.3 million, or $3.13 per share, for fiscal 2008.