Hi, it's Glenn. As many of you know, I was in San Francisco Wednesday at the maintenance base when I received the disappointing news about the ATSB's decision on our loan application. I was meeting with several hundred employees at the airport and the base and had the opportunity to listen to what was on your minds and the opportunity to introduce Pete McDonald, our new executive vice president of Operations and Rosemary Moore, our new senior vice president of Corporate Affairs.

It was a great chance for the three of us to hear what was on your minds and we had the opportunity, of course, to give you the benefit of what we were thinking about for United on the way forward. As you would imagine, I traveled back to Chicago late Wednesday night for what has been a very active day – talking on the phone to many of you, meeting with the executive team, talking to directors of the company and talking to union leadership to gain the benefit of their thoughts. All of us focused on their efforts and our next steps.

As you know, and as we've discussed, we've been working on parallel tracks for months. We've been working with the anticipation of the possibility of an ATSB loan guarantee, which would have provided us with the liquidity to restructure the company, to position the company out of court. We have also, however, been working for the possibility of a Chapter 11 filing so that, if we decide to file, we will be ready. We've examined every aspect of what a filing means to United and have been working for months with the best advisors out there to prepare for Chapter 11 if that is our decision. We believe we will have the financing in place to keep our operation functioning in the event of that filing.

A critical point for me to make in this call is to tell you I'm very proud of the way we've been serving our customers during these months of distractions. I know Pete McDonald was very pleased to announce to the audiences in San Francisco that United is number one in on-time performance in the DOT statistics, and we're tremendously proud of that. But if that's been important in these past months, it's going to be increasingly so if we file for Chapter 11. We expect our competitors to be very aggressive and we have to be better, more efficient, more effective in everything we do. We're going to have to commit personally, each of us, to serve our customers in whatever way we can to protect our business and our options for a successful United future.

In San Francisco I got the tremendous impression that there's an enormous reservoir of competitive spirit and pride in the people of this company. I'm convinced that the people of United want to compete and they want to win. This decision point is a tremendous opportunity for us to dramatically transform this company. I have no doubt that United can be successful, and I'm confident we will be. In the days ahead, I'm going to take every opportunity to get on the phone and give you an update and to communicate as often as we possibly can. I've met with the leadership team today and told them they all should do the same and, whenever they can, they should get out and communicate personally. I shared with them how much I valued my opportunity to spend a day and an evening in San Francisco doing just that.

So, as I've always said, keep your heads up, be United and I'll be back to you soon.