Hi, it's Glenn, it's Friday, the 21st of November, and I'm calling you from London. I have spent the week in London, Paris and Frankfurt, meeting with our employees, our customers, the management of the airport authorities at Heathrow, Charles de Gaulle and Frankfurt, the media in the U.K., Germany and France and other important audiences to the company.

It's been important for us to be here, communicating that United is competing again and building a business for the future. As we all know, Europe is a very important market for United.

Let me say that I have been impressed by the quality of the work by our people here in Europe. The new organization of Worldwide Operations and Worldwide Sales is working together very well, led by Marcel Fuchs and Brandon O'Reilly.

I want to share with you for a moment what people here in Europe are most interested in. They want to know how the company is doing, they want to know about our future products and services, they're very interested in Ted and of course they have specific local concerns.

In fact, as I met with airport authorities at all three airports to discuss the importance of maintaining and building on our airport infrastructure and the competitiveness of our facilities, I spent a considerable amount of time talking about Ted and our financial and operational performance and our plans for the future.

I had the opportunity to speak to an audience of people from the aviation sector at the Institute of Economic Affairs in London about the importance of removing regulatory and policy barriers to enable airlines to be competitive on a truly global basis.

I had a very strong message of progress to deliver in Europe, with strong financial results for the company, both in the third quarter and in October. October was particularly impressive to everyone that I spoke to. Solid financial results for the month: 25 million dollars of net income before restructuring charges; 60 million dollars of operating income; a nine percent year-over-year improvement in unit revenue -- well ahead of the industry average; 7 million dollars a day in positive cash flow.

We also continued to deliver on the operational front: the highest load factors for any October in the history of the company, with the Atlantic, in particular, running ahead of North America; 77 percent of United's flights departed exactly on time; and an 86.2 percent on-time :14 arrivals rate. We have been able to combine solid financial results with stellar operational results.

Everyone I met with in Europe sees a company that's really beginning to hit its stride as it targets exit from Chapter 11. People have the distinct impression that our company is doing very good work, both in restructuring, in operational excellence and in strategic planning.

All of this has been reinforced by the exciting launch of Ted in Denver this week -- again sending a creative and positive message to the markets. I think you'd be motivated by the reception here in Europe of Ted's unveiling. It was perceived as Ted not the product, but an example of innovation on the part of the company. I want to congratulate the team in Denver and across the company for doing a terrific job in unveiling Ted.

Our steady progress shows that we are creating an airline that's going to be profitable and sustainable in the long term -- but we all know that we have a lot of work to do.

Our customers are loyal, but they're telling us that we need to continue to enhance our product if they're going to continue to be loyal. Unveiling Ted is a good example, but it's just a beginning. We need to continue to tap the creativity and the energy that created such enthusiasm about Ted's launch and we need to extend it to the full portfolio of United's products.

And, finally, as we've discussed previously, and there's been much attention on this recently we have work to do with regard to pension funding obligations and we have been pushing forward on numerous fronts.

The only issue that we have with our pension funding obligations is the significantly accelerated pension funding schedule that is currently mandated by the deficit reduction contribution legislation. This schedule requires companies with under-funded pension plans to make significant accelerated payments to their plans to reduce the gap between a pension plan's assets and its liabilities.

If these accelerated payments did not exist, United would be able to meet all of its pension funding obligations. We can fund our pension obligations on the standard, non-accelerated timetable and we intend to continue to fund our pension obligations. As we said publicly in the last couple of days, we are emphatically not seeking government aid or asking the government to bail us out and take over our obligations.

United, along with many other companies, supports the efforts in Congress to modify the DRC, or this accelerated timeline, and to simply smooth out pension contributions in the near term. To that end, progress was made in Washington, D.C., on Thursday, yesterday, when the U.S. House of Representatives approved legislation that would allow airlines to reduce by 80 percent the extra contributions over the next couple of years. This does not apply to our regular, standard payments. The legislation would also replace the 30-year Treasury bond used to calculate pension funding with the more reasonable corporate bond index.

This is important progress, but, of course, the Senate has yet to weigh in, and then the bill is going to require the President's approval.

To close, today in court, our lawyers presented a summary of the progress that United has made since we filed for the protection of the court back in December. The story is really an impressive one. We have made significant progress and we have done very good work. As I read through the testimony, I couldn't help but be personally impressed by all that we have done together. And although there is much more to do, I'd urge you to take a moment and to read through the testimony. It will be in NewsReal [beginning next week] and to reflect on all that we have accomplished in a very short period of time. And as you do so, think about all that this is going to enable us to do as we move forward.

Until I get a chance to talk to you next, stay United, and keep your heads up.