Hello, this is Jane Allen with an Update for Friday, November 21, 2003.

It was a very busy week, and I've got a lot of information to share with you. I'll begin with the good news about our October Monthly Operating Results. The news and the trends continue to be positive.

First, we reported net income for October of $25 million, excluding reorganization expenses of $149 million. The reorganization charges were mostly non-cash items resulting from the rejection of aircraft as we align our fleet to the market.

Second, we achieved an operating profit for the month of $60 million. This is an improvement of about $300 million compared to a year ago. Cash flow remains strong. Excluding special items, we had positive cash flow during October of $7 million per day. In addition, we ended the month with a cash balance of $2.5 billion which included 650 million dollars in restricted cash (filing entities only.)

Third, UAL's system wide passenger unit revenue was up 9% year-over-year which was well ahead of the industry average. Unit revenue is passenger revenue per available seat mile.

Finally, we met the requirements of our debtor-in-possession financing for the ninth straight month, and we expect to meet them for November as well.

These are solid financial results. They tell us - as Glenn Tilton said - that "We are back in the game, competing." We're making great progress towards creating a United that is profitable and sustainable for the long-term.

Thanks to the excellent work of our employees, United achieved strong operational performance in October, with 77 percent of United flights departed exactly on time. And on-time arrivals within 14 minutes for the month were at 86.2 percent. We achieved all of this despite challenges presented by the wildfires in California and the increase in load factor over last year. These excellent results are a testament to your dedication and commitment. Congratulations and thank you for all of your hard work.

Our financial results are directly related to the next issue I'd like to discuss - pensions. On November 20, the New York Times published an article that mischaracterized our pension situation. To set the record straight, United is not seeking government aid or asking the government to take over our pension obligations. We can fund our pension obligations on the standard, non-accelerated timetable, and we intend to continue to fund our pension obligations. The issue is the accelerated pension funding that we are required to make over the next three years to make up for shortfalls in investment returns on our pension assets. These investment return shortfalls were caused by historic low interest rates, and the meltdown of the stock market, which impacted companies across the country. United, along with many other companies, supports the efforts in Congress to modify this accelerated timeline and extend required payments over a longer period of time. This would enable companies to protect the pension benefits of millions of American workers and retirees. There has been tremendous legislative progress on this issue, but much more work needs to be done. Look for updates on this very important issue in NewsReal, Glenn's "Eye on UA" and in my weekly Update message.

You may have heard that United reached an agreement with the U. S. Department of Transportation (DOT) concerning complaints from passengers claiming they were removed from flights or denied boarding based on ethnic background or national origin in the days following the September 11, 2001 terrorist attacks.

After thoroughly investigating the matter, United believes that it and its employees have fully complied with U.S. federal non-discrimination laws and we affirmatively deny that any passenger was ever removed from a flight or denied boarding based on ethnic background or national origin in the aftermath of the terrorist attacks.

Nonetheless, we believe it made more sense to settle the matter with the DOT rather than pursue litigation. The settlement maintains United's position that it believes neither the company nor its employees failed to comply with any U. S. federal law. It allows employees to continue to focus on serving passengers, rather than involving them in costly and contentious litigation, and the DOT did not require United to pay a fine.

Finally, I'd like to talk about the upcoming holiday travel season. Airport security lines are likely to get longer than usual during this time with anticipated load factors of 83 to 91 percent.

Airport staffing has been adjusted to best meet the needs of our customers and teams have been working with their local TSA representatives to coordinate manpower for our increased loads.

To help expedite the screening process, United is offering a few tips that can save customers and employees time and make their travel experience easier. On U. S. domestic flights, customers are advised to arrive at the airport at least 90 minutes prior to their scheduled departure time -- 60 minutes for customers with no checked baggage. For international flights, customers should arrive two hours before their scheduled departure. Additional information can be found on the TSA Web site at www.tsa.gov. 

If you are traveling over the holidays, you can help by using automated systems for listing and check-in, to free up CSR's to assist revenue customers. Working crewmembers, whether traveling to the airport from home or from a layover hotel, should allow extra time for traffic and for long lines at airport security checkpoints. With everyone working together, we can make this an enjoyable season for our customers and for our employees.

Well, that's the news for this week. Before I go, I want to let you know that starting today, Update has a new phone number. Now you can call 877-UAL-NEWS (825-6397) to hear the latest message. Thanks for listening, and have a safe and enjoyable weekend.

Installation of the new Protective Breathing Equipment (PBE) containers began at the San Francisco maintenance base this week. These containers will make it easier for flight attendants to check the PBE pouches for serviceability, since they no longer a need to remove them from the container to check the indicators. It also cuts down on the wear and tear that results from the physical check. By extending the life of each PBE pouch, the number of replacements decreases which will result in an estimated annual savings of $748,000. The resolution to this problem resulted from excellent teamwork and cooperation among various divisions. And, thanks to flight attendant feedback, engineering and maintenance found a solution that saves the company money and makes your life easier.