No matter how well United or any U.S. carrier transforms its business, none of us will be as strong as we should be ? much less in a position to compete in the emerging global aviation industry ? if there's no change to the regulatory environment in which we operate, |
not a foregone conclusion. |
Now it's really time to fly, to move forward. |
other U.S. competitors who provide a commodity product with the barest minimum of service. |
Our plan will have to be more aggressive than it was out of court. We will need more cost savings. Work rules will have to be on the table. We have to take this opportunity to create a different and durable cost structure that allows us to compete and succeed in a different revenue environment. |
reflects the financial foundation of the much stronger, much more competitive United that we have built. |
Should Southwest decide to fly from Denver to every city in their network, they would still only offer 60% of the coverage United offers today, ... We will be delighted to fly you to the 800 destinations they can't. |
show just how far we have come at United. Our business plan is viable and financeable and has the full support of the banks. This financing will enable us to exit and to compete effectively in this industry. |
So far, the pressure is not that great. It's sort of ringing the bell for us. We've learned to compete effectively with Frontier, and we'll do the same with Southwest. |
The confirmation of our plan is a clear validation of the work we have done to make United a sustainable enterprise with a strong financial and operational foundation. We will leverage that foundation to take full advantage of the opportunity we have to compete for leadership in the U.S. and worldwide. |
The fact that we have proposals for up to $3 billion in exit financing from four of the most prestigious financial institutions in the world is solid confirmation of the work that we have done together, and most importantly, of our ability to build on that success in the future, |
The future that we are heading into will be no less challenging, but we are approaching it now from a position of leadership and strength. |
The Plan of Reorganization reflects the financial foundation of the much stronger, much more competitive United that we have built, |
The results we are reporting make it clear that we have done well this quarter in overall cost control, especially given the significant reduction in capacity. |
These global financial institutions see opportunity in United -- even in the midst of the ongoing brutally competitive industry environment. |