There's very good news about our operational performance for the year 2004. According to the latest Department of Transportation consumer report, United ranked second for on-time :14 arrivals. Our aircraft arrived within 14 minutes of scheduled arrival nearly 80 percent of the time, just a few tenths of a percentage point behind Southwest.

Our other year-end rankings included
* first place for the lowest number of involuntary denied boardings;
* third place for number of flights canceled;
* third place for the number of mishandled bags;
*and fifth place for customer complaints.

You achieved this outstanding performance during a year of great stress, frequent bad weather, and record high load factors. This is, indeed, a job well done. Congratulations.

Turning to other operational news, as you know, during January 2005, we were hammered by the weather and our performance suffered because of it. Thunderstorms and blizzards caused many cancellations and delays. As a result, our on-time departure :00 performance was more than 15 points below our first-quarter Success Sharing reliability goal of 69.0. This is a disappointing start to the year, but our performance has already improved markedly in February. During the first nine days of February, our on-time :00 departures is over 77 percent, more than 6 points above goal. Your continued focus and commitment has enabled us to rebound quickly. Thanks for getting us back on track.

Tomorrow marks the first anniversary of Ted. Since Ted's launch in Denver in February last year, it has been well-received by customers and has delivered strong results for United.

In the first year, Ted carried over seven million customers and achieved strong customer satisfaction levels as measured by definite intent to repurchase. Not only that, more than three-quarters of Ted's customers say they would recommend Ted to a friend.

Ted is also a strong competitor. We have seen the competition exit - or announce their impending departure - in seven of the 22 routes that Ted flies.

After a successful first year, Ted will continue to grow where it makes most sense from a customer perspective and from a financial perspective.

There are many things that contribute to Ted's success, but it is you who give Ted its heart and spirit. Whether you were working onboard or behind the scenes, you should be proud that your contributions have been integral to Ted's successful first year. Congratulations!

Finally, I want to share the wonderful things two of our elite 1K customers had to say about Newark-based flight attendant Alex Barreto. In a letter, our customers said that Alex's professional service was excellent. "…Alex worked with his crew to coordinate an excellent level of service including perfect timing and friendly conversation, all with great efficiency."

They also appreciated that Alex took the time to get connecting flight information for the customers affected by weather delays that day. "We were able to enjoy the rest of our flight knowing that our connecting flight was also delayed. Going above and beyond the standard level of service like Alex did will certainly help United succeed in the future. Our thanks to Alex and to United for a great flight."

Thank you for taking such good care of our customers, Alex. Great work.

That's all I have for today. Fly safe and I'll talk with you again next week.