Hi, it's Glenn, and it's Thursday the 9th of September. On my way back to Chicago last Tuesday, I took the important opportunity to spend time in Denver to meet with more than five hundred employees at the Flight Training Center and then at the airport.

I want to take the opportunity on this call to thank everyone for their attendance, questions and frank feedback, as well as for taking the time to show me some of the work that has made the Denver hub such an important, vital part of our overall operations.

It is clear to me that in Denver - and throughout the system - we are at our best when we are driven by a common goal, doing everything we can to ensure that this company - United - remains both viable and relevant going forward. As we discussed in our meetings on Tuesday, this is the single most important thing we have to do together. It should be our common goal.

If we are not all dedicated to creating a truly competitive United, there really is little point in doing the rest of the work that we need to do. And as I said many times, and as we all now know, it's going to be hard work, and it is going to continue to be hard work even after we emerge from Chapter 11, because the marketplace is going to demand it of us.

That said, what is our motivation? As an employee asked me on Tuesday, “Is this all really worthwhile?”

My response: Only individuals can say whether or not the enormous transformation we are going through is worthwhile to them personally. But I will tell you on the call, as I told everyone in Denver, this company has significant potential. We have the opportunity and the tools - and we have to determine whether or not we have the will - to build not just a good airline, but a great company – one that will succeed in a very difficult and competitive marketplace.

As we have talked about many times before, we are leading the industry operationally. We have the best on-time performance among the majors for the past two months. That is a remarkable accomplishment given the potential for distraction. Our hubs are performing at a higher level than ever before. We have expanded our powerful global route network. And we maintain today, despite our challenges and our difficulties, a great global brand.

What is most important is that we are using our time in bankruptcy to make United even stronger, better, more competitive and prepared for the challenges of the future. We have new service to China; the first U.S. flights to Vietnam in decades; the new “p.s.” premium transcon service and increased in-sourcing work from international markets to our maintenance base in San Francisco.

Many of you that I met with in Denver are involved with finding new ways to reduce operating costs through Project F.I.T. –
Fix, Improve, Transform.
This effort is still in its early phases … but it's a terrific example of how we can rethink ways in which our work can be done in a more productive and efficient way.

And of course, being in Denver really brought home the success we have had at United with Ted, which is putting significant pressure on our competitors throughout the system. This kind of innovation doesn’t happen often at companies that are going through in-court reorganization.

Historically, United has not maintained a very competitive position and we have lagged behind our competitors in many key areas. On a commercial basis, simply put, we were in the middle of the pack, at best.

We've had to transform just about every part of our business – both financially and operationally – and we still have a tremendous amount of work to do before we get ourselves on competitive footing.

Of course, there are many out there who question whether or not we can complete this transformation given our challenges. Ultimately, however, we are the ones who are going to decide whether we will survive and thrive in this new environment. In Denver, I said that I see us at the point of the spear, leading the opportunity to create change. Success means getting past many of our long-held beliefs and directly addressing all the issues that continue to make us non-competitive now and into the future.

There were of course questions in Denver about pensions and retirement benefits, which are the most difficult issues that we must address. I know that the subject of pensions is legitimately charged with emotion and worry - and it is something we are working hard with all our key stakeholders including the creditors’ committee, our Board of Directors and labor leadership to address.

I was asked in Denver, as a matter of fact, if we would be making a decision on pensions in the September Board of Directors meeting. The answer to that question is no. It is extremely complex, we need more time, there are no easy answers and reaching resolution is going to take that additional time.

Ultimately, our future depends on achieving market relevance –ensuring we are competitive, productive and delivering compelling value to our customers at a positive margin for us. Our strong operations and our ability to innovate are good signs for our future if we do the right things today and build that foundation.

At the end of the month, when I meet with our Board of Directors, we are going to take a step back, and look at the United that we all want to see in the future – the United that we are creating by making the tough decisions today.

Ultimately our success will depend on each of us knowing precisely why we are here - why it's worthwhile - and staying constantly focused on what we have to do to make this a strong, competitive and surviving United.

So, until the next call, and to all of you that I am going to see in the next little while as I travel throughout the system, keep your heads up, stay focused and, above all, stay United.