Hello, this is Glenn.

As I record this message to all of you, we are now two weeks into the war with Iraq, and we are all understandably preoccupied with the events in the Middle East.

For the airline industry, the past two weeks have created additional challenges as airlines in many parts of the world adjust flight and employee schedules to match passenger and revenue declines. And the international U.S. carriers are being most severely impacted.

Every day we hear and read about our U.S. competitors taking actions in terms of their cost structures -- their labor negotiations included. The entire industry is at critical juncture, and as we have said repeatedly, solutions that may have worked in the past will not fix our current problems or those in the future.

We know that the recent decrease in travel demand is partially driven by concerns about the war and about personal security. Today, however, no one can accurately predict the timing and pattern of customer purchasing in the near future.

At United, as I said on my last call, we are on a daily, if not hourly, basis monitoring industry and company data to ensure that we are both timely and appropriate in our response to all of the challenges in passenger demand. Our intention is to meet the needs of our customers and at the same time meet the financial requirements of our business.

While the larger issues of the world continue to impact our industry, we at United are continuing to do the important work that will put our company on a strong sustainable path for the future.

As we all know, the most difficult work we have to do today is to negotiate new labor agreements. To take United from where we were in 2002 and transform this company into a company capable of competing and winning in the marketplace of the future is a tremendously complex and difficult task -- with a significant impact on our company's people.

As a matter of fact, there are many outside of the company -- and on occasion some inside -- who contend that it's going to be too difficult for us and we're not going to be able to succeed.

However, the tentative agreement with our pilots' union that was announced on March 27 is a meaningful and a significant agreement that meets the challenges that we face and is a tremendous step in enabling United to do what we need to do to be successful.

It's an agreement that responds to those who were so quick to count us out, that we do indeed understand the issues facing the industry and our company. And it says that we do know what it's going to take to be a viable business and a strong competitor -- for the longer term -- in this difficult industry.

Our pilots have shown leadership. And, as I said in our press release, we recognize the sacrifice that this represents and we admire them for taking the difficult actions.

It was hard work -- and I want to thank Captain Paul Whiteford and the Master Executive Council of ALPA for demonstrating leadership. And, at the company, we are all hopeful that the agreement will be ratified by the membership.

Not to be overlooked in what was a very busy week, is the ratification by the Transport Workers' Union of their new contract. Personal thanks to the TWU and their membership; it represents another step forward for United.

Coming to grips with our problems and identifying real solutions takes time and is never easy.

We have three tough months of discussion and negotiation behind us, and we have more to come. Our other union leaders and their representatives continue to work hard with management on their contracts.

I have no doubt that their good work will also result in making United more competitive in the future.

My last comments today focus on our efforts for an Iraqi war relief package from the federal government. United, the industry, the Air Transport Association and our unions continue to engage the political leadership in Washington. This has been a relentless and significant effort that mirrors the importance of this package to our industry.

I also want to mention, in addition, United and our unions mounted a grassroots campaign that resulted in more than 12,000 e-mails and over 2,000 phone calls to members of Congress. And, representatives of our employee groups attended meetings in Washington to deliver their messages in person. I'd like to thank, on behalf of the management team and of the board, each person who took the time to contribute.

When we look back, these weeks and months will definitely be the most demanding and challenging in United's history. They are demanding, however, that we know what is required and, more significantly, we know what we need to do to continue to move forward.

We're making very good progress. We're running a great airline. We continue to break operating records. Every day we keep our focus on our customers. The best day in our history, from an operating perspective, was last week.

United remains an extraordinary company and we're going to continue to succeed.

As always, that's because of you. And I want to close the call by expressing my appreciation and thanking you for continuing to do what you can do to make United the company it can be.

Thanks very much and I'll be talking to you again soon as rapidly changing events develop.