Hi, this is Glenn, and it is Tuesday, the 3rd of August.

I want to talk to you today on the call about how important it is for our successful exit from bankruptcy that we continue to take decisive action and that we be accountable and responsible for our decisions.

The bankruptcy process requires that the actions of United be transparent and that they include the participation of our board of directors, our creditors committee, the court and others who have a stake or say in our success.

This process is often difficult, and goodness knows it's complex. But, it also provides for checks and balances that encourage consensus. We have worked hard to achieve that consensus, especially with our employees and important labor groups.

That participation, that alignment, has served us very well. Much good work and progress have been accomplished.

There have been many issues addressed, and there have been many hard decisions taken. All of our constituent groups have had the opportunity and the encouragement to contribute and to make their points and to have their voices heard. Their views have been taken into account.

It's important to remember, there has been no occasion throughout this time, including our last application to the ATSB, when we did not have the support of our board and our creditors committee.

As many of you may know, a member of United's board of directors, made the statement last week that he and his union, the IAM, are now, and I quote, "at war with United."

This statement followed his decision not to attend two critical meetings of our board of directors and was followed by the filing of two lawsuits against officers of this company.

As I said earlier, it is important that everyone in our company understands that throughout the bankruptcy, our constituent groups have been involved every step of the way, including all of the company's directors.

Together, we all worked hard to secure exit financing without affecting pensions, even with the initial impact of high fuel prices.

Clearly, the decision by the ATSB and the continuing escalation in fuel prices has presented another difficult set of challenges for our company, and indeed for the industry.

We cannot change the realities of the marketplace and the competitive environment. Nor can we ignore the demands of the capital markets with regard to our ability to finance our business plan. The financial impact of fuel alone, is estimated to be over 900 million dollars this year.

In the second quarter, our employees' operational performance was among the best in United's history. We reduced costs by 10 percent (on our mainline). Passenger unit revenue increased by 10 percent, and we outperformed the industry.

And, despite these significant improvements, we were unable to offset the brutal impact of fuel prices.

We recognize and accept these circumstances. Fuel at unprecedented levels, the industry's inability to pass on these costs -- although we have tried -- and the continuing highly competitive business environment.

What we need today is serious, constructive thought that will lead to workable solutions for all of our stakeholders.

And, as we have repeatedly said in the past, we welcome ideas from all our constituent groups, including and especially our employees, our unions, our board of directors and our creditors committee.

We know that any thought of change to our current pension plans is an emotional and worrying issue for all our employees. That said, it is the responsibility of every one of us who has a voice at the table to engage in the debate and find the best possible outcome for our employees and for our company.

I look forward to seeing all our directors return to the board room to participate. I know the meetings we have with our union leadership over the next two weeks can and will be productive. We do want to hear ideas -- constructive ideas -- that will improve our business plan, and I know that the only way we can succeed is to be both thoughtful and constructive.

There is serious work to be done that will affect the lives of everyone at United and the company itself. We must get on with that work together.

And that is exactly what we will do. We will not be distracted. We will not allow our hard work over the past two years to be undermined.

We will not only succeed in exiting bankruptcy, we are determined to make United a competitive, sustainable company for the future. No matter how difficult that future may be.

That has been our focus and ambition since day one, and it is going to continue to be so.

So I will be talking to you again soon. Until then, keep your heads up and, above all, stay United.