Once we’d learned that the ATSB had not approved our loan application, we were left with few options for protecting our company. The Chapter 11 filing ensures that we can continue to operate normally. It also permits us to implement the big-picture, fundamental changes we need to make to remain competitive.
Where do we go from here? We move forward and take this opportunity to transform our company. Chapter 11 gives us protection from our creditors and an opportunity to restructure the way we do business. This is a new beginning for United and so far we’re off to a good start…
We continue running an excellent operation. This is testimony to the skill and dedication of our employees. I ask you to continue this performance and this focus. Through Wednesday of this week, we were number 1 in completion and on time performance in the industry.
We also launched a new U.S. ad campaign called Chapter 1 this week. The campaign focuses on our ability to overcome our current situation and emerge a stronger company. I encourage you to learn more about our Chapter 1 campaign, which is available in several newspapers and via SkyNet. Importantly, these ads talk about our future and the difference our customers will see in United. We have to make that difference a reality.
On December 12, United’s labor team met with coalition representatives to continue discussions with the unions’ financial advisors. At the meeting, union representatives were presented an overview of the company’s business plan. We plan for these meetings and the exchange of information to continue.
Our priority is to reduce costs, including labor, in the very tight timeframes established by our lenders. We must get those costs out of the system so we continue to receive the money we need to operate during restructuring proceedings.
At the same time, a strategy team is developing a long-term plan that will ensure United emerges successfully from Chapter 11. The plan must also create a competitive product and cost structure that will be durable in the face of economic changes.
On another note, on my flight from Chicago to Los Angeles last night, I personally witnessed how flight attendants are making a difference. Chicago-based purser Joni Markeson and her team: Frances, Pamela, Sharon, Ranae, Triet, Annette, Julie and Linda were exceptional. While the crew was unable to fulfill a premier’s first meal and beverage choice, they delivered the service with grace and style. They worked with what they had and really reached out to this customer. The crew had fun and our customer was delighted. I spoke personally with the customer and was treated to his expression of lasting loyalty to United Airlines. I want to thank this crew for making this customer’s, and many others, travel experience a good one!
As I close this week’s message, I’ll leave you with this thought… it is important that we provide great service, but it is essential that we support and respect all members of the United team. We will not succeed unless all employees stand together. Everything we do must make a difference in the eyes of our customers and to our competitors. This is our opportunity to truly transform the company and again, as I said last week, you are the difference.
Thanks for dialing in. Have a great weekend and I’ll talk to you next week.