Hi it's Glenn, and I'm calling from Chicago. I'd like to talk to all of you today about the agreement that we reached with the City and the County of Denver to assume our lease at Denver International Airport.

This is a very important and a positive development for United in our restructuring efforts, it's good for Denver International Airport, and it's great for the people of Colorado. The agreement ensures that United Airlines will be an active part of the Denver community and the Colorado community for many years to come.

I was delighted to have Pete McDonald represent United at a press conference Sunday that was hosted by Denver Mayor John Hickenlooper and the Denver International officials to announce this important news for our company. I'd like to take just a moment to highlight a few key elements for us.

Denver will build a 38-gate United Express Regional Jet Terminal and expand our ticket counter. This growth is important to our plans for United Express and it's important to our ability to serve Colorado and the surrounding region more effectively and cost-efficiently.

The agreement also significantly calls for a reduction in our operating costs out of Denver by 10 to 15 million dollars per year -- a significant savings.

When the expansion of Concourse A West is completed by October of 2005, we will have the same number of gates in Concourse A as we have today -- eight. In the intervening period United will temporarily relinquish three gates to facilitate construction work.

Finally, the agreement includes the implementation of new gate utilization criteria, management tools and a discount fare program for intrastate travel to encourage more flying between locations throughout the state of Colorado. These provisions resolve Colorado Attorney General Ken Salazar's formal antitrust investigation into air passenger service to and through DIA.

We are very pleased to have resolved the issues and we are pleased that we have a beneficial resolution for everybody involved. I want to personally congratulate the negotiating teams that worked hard over the last few months and, indeed, over the weekend, to make it happen.

Last week also brought encouraging news on the operations front. Our rankings in the DOT Air Travel Consumer Report for September and the results for October traffic and operations were exceptional. We should all feel good, and I should congratulate all of our employees for continuing to run a terrific airline and for keeping the pressure on our continuous improvement.

The September DOT Consumer Report in particular demonstrates our focus on improving areas that still need work, on being better than the month before and -- importantly -- being better than our competitors. There are a few specific points worth mentioning:

We were number one among the seven major carriers in departure completion with the fewest cancellations. And, we ranked second in arrivals on-time :14

We made significant progress in mishandled baggage, including our lowest-ever rating since the DOT started tracking in 1988. Great progress for our company.

Customer complaints dropped also -- we jumped from seventh to third lowest among the major carriers.
All of this -- even as we continued to see very encouraging and high load factors.

In fact, despite the wildfires in Southern California and the highest load factors for any October in the history of the company, 77 percent of United flights departed exactly on time. While load factors across the system were very high, it's particularly reassuring to see such high Pacific traffic, loads there at 83.6 percent, up 5.9 points over last year.

This is a function in part of an improving economy and reductions in capacity. But there's a ton of competition out there. So, demand for our product is in large measure driven by both your exceptional operational and service delivery and terrific customer engagement efforts by Marketing and Sales in a number of our key markets around the world.

As I have said to everybody on this call before, as we meet with business and political audiences in New York, Washington, D.C., Asia or Europe, it is this kind of performance that gives us a platform of credibility to talk about United's progress and about the issues related to our industry.

It is a very sharp contrast and a positive one when compared to the circumstances we faced one year ago. At the same time, I think we all recognize that the benchmark against which we must measure ourselves is not United Airlines in November of 2002.

We have together the potential to be the best in the industry -- and getting there is going to require that we sustain these efforts all across the board. This is particularly important as we enter the winter months and weather challenges us even more intensely, as indeed it has over the past two weeks.

So, in closing, keep up the excellent work and I'll be talking to you soon.