Hi, this is Glenn.

My call today marks the first critical milestone in our recovery plan—the ruling by the court last Friday that allows United to implement the interim wage reductions that many of you voted to support last week. This is a very significant step for us and I want to take this opportunity to thank each of you for your support and for your sacrifice—and to talk a little bit about what continues now to be critical for all of us going forward.

We've talked many times about the urgency of the company's situation and a need to dramatically change our company—and that certainly doesn't change now.

We've talked also about the fact that our plan to recreate this airline must allow us to compete successfully not only in today's tough business environment but it also has to be sustainable in the longer term—and that hasn't changed.

United's ability to develop and then successfully execute a new strategy that will dramatically change United and its position in the airline industry is going to be best done if we do it together—and that hasn't changed.

So we've made a major step forward within our Chapter 11 process with the immediate interim wage reductions—but as important as this is—it really only gives us the opportunity to do the really tough stuff and that's to make the decisions—make the judgments—to fix this business for the long term for all of us and for all of those that are going to come after us. It gives us a short window of time to address—with our union leadership—the changes to work rules and scope clauses and productivity issues and to finalize our business plan, to then do the really difficult business of executing effectively.

As you know, we've been meeting with the union leadership to discuss the business plan this week. We'll be presenting the full plan to them prior to the board of directors meeting on the 30th of January, when we're going to present it to the directors and get their guidance. We're then going to meet with outside interested parties with a stake in our success and share the way forward with them, most importantly the creditors committee, and we're going to introduce the plan to employee groups around the world.

Our situation remains extremely challenging, and I know that it's has caused a lot of tension and concern across the company. I also know that it's created unprecedented external interest and commentary from just about anyone and everyone with an opinion on the airline industry or United.

This combination of daily external scrutiny and second-guessing—together with our own issues within the company—creates a tough environment for all of us. While we move effectively to manage all of these complex demands, it's important to remember that we've also responded with some of the best operating results in this company's history.

What's also important to remember is that we're going to have to continue to work together and to keep our focus on running that excellent operation, continue to focus on our customers, protect those customers from our competitors, continue to make smart, tough decisions and take actions that ensure that we're going to have a future.

What's also important going forward is that we are open and ready personally for change that's inevitable. It'll make us a better airline. Our prosperity really does not lie in our impressive past.

Remember—many of our competitors are faced with the very same issues that we are now addressing. We intend to succeed and we intend to exit Chapter 11 successfully and when we do, we're going to be a force to be reckoned with for those very same competitors.

So, not only am I going to be talking to you again soon, when I have something new and important to report to you, but I'm going to be visiting with you soon. And when I do we're going to be discussing the way forward for United. And we're going to be discussing all of the important changes that we need to make in United to be successful in the future, and not only to protect jobs or preserve jobs, but also to create jobs. We're going to be sharing with you those things that we think create an effective strategy in the airline industry of the future for this company. And we're going to be sharing with you the details of the plan that'll make that happen. I'm looking forward to that opportunity and I know the management team is looking forward to joining me in those visits.

So until then, keep your heads up, continue to do the excellent work that you've been doing, be united, and I'll be talking to you soon.