Hi, it's Glenn. It's Wednesday, June 23rd, and I'm calling from Chicago, and I have just returned back from Washington, DC.

I want to update you on the call to what we at the company are doing to move forward after our discussions with the ATSB last week on modifications to our application that would make it acceptable to the ATSB. Two of the three agencies of the ATSB have, as you know, indicated that they are willing to reconsider our application if presented with details of those modifications.

Yesterday, we provided that information to them.

Specifically, we proposed to the ATSB an increase of 500 million dollars in the amount of capital at risk in the application. That would take the total capital at risk in the application to 900 million dollars and it would reduce the amount of money the ATSB would need to guarantee to 1.1 billion dollars from the original 1.6 billion dollars. Toward that end, we are moving forward to identify sources of capital by approaching the financial markets for potential debt and equity financing.

We will soon be getting feedback from the capital markets on what we need to do to attract investment in the company and its business plan. They'll be closely considering United's business proposition, our operational performance and the company's overall ability to compete in a changing, and more difficult, industry environment.

That said, because of the good work that you have done to date to turn this company around, we have a strong and solid foundation upon which to build.

In addition to the increasing competitive pressures in the industry, we continue to face extraordinarily high fuel costs.

We responded to this dynamic industry environment by continuing to make necessary changes above and beyond the business plan recently submitted to the ATSB, because we know we have to.

In May, we told the ATSB about the 300 million dollars in cost savings and another 300 million dollars in revenue improvements that were not in the business plan but are already identified and under way at United.

As you on the call have heard me say many times, there is still much work to do. We are going to have to maintain a relentless focus on cost improvement.

In fact, in my testimony before Congress just a few weeks ago, I told them that we knew we were going to have to dig deeper. There is no denying that.

United has to continue to meet the demands of a competitive marketplace, and cost reduction is going to continue to be a major part of everything that we do.

We're going to have to do everything we can to be successful as we exit bankruptcy.

What we need all of us to do at the same time now is to continue to drive United's excellent performance forward. It's the most important job we all have.

We need to focus on our customers and continue to deliver the great service to United's customers that they have come to expect from us.

Encouragingly, our load factors are in the 90 percent range, and bookings are terrific for the summer. That's good news, but it also presents its own set of challenges -- that you're all familiar with -- to delivering a consistent level of excellent performance that I have just referred to.

I know that you're going to do everything you can to make this a very busy and a very successful summer season for United. I have confidence that it's going to be one of our very best.

I'll be talking to you again soon. In the meantime, congratulations on the work that you've done so far, keep up the great work and stay United.