While we regret the necessity for this massive furlough and the substantial schedule reduction, the adverse effect on our dedicated employees and customers and the communities we serve, we have ... no choice.

Around the world, today's air travelers demand reliability, flexibility and high-quality service. We know from our previous dealings with them that the SkyTeam members are world-beaters by all these measures, and we're proud to be part of a global alliance that shares our focus on the customer.

While it's great to outperform all of our hub and spoke competitors, we still need to find a way to make money.

We believe that employees should always be treated with dignity and respect, especially when we are forced to make these tough decisions.

We are excited to partner with Alaska and Horizon to offer our customers significantly expanded travel opportunities in the western United States. With only one overlapping route but a common approach to delivering the best service to our customers, an alliance between Continental and Alaska/Horizon is a perfect fit.

If you take the meat ax to the problem, you destroy relationships, ... And who loses? The employees. The customers. And the shareholders.

I'd rather have 50 people at 100 percent of their pay than 100 people at 50 percent, ... If you don't pay people what they're worth, they'll go to IBM or somewhere where they are paid what they're worth.

Our focus as management is on liquidating (our Amadeus stake) ... and giving that back to shareholders.

You know how Chicago works? You're either on United or American; that's it, ... You take what they give you at the same fare, which means the whole United States would look like Chicago.