We took the view early in the case that we were going to take full advantage of every opportunity that bankruptcy gives us to fix our situation, and we have done just that. We also took advantage of all of the opportunities to save costs that aren't necessary, enabled by the bankruptcy process.

We are a vastly different airline than we were in 2002.

Today represents a validation of three years of hard work that at the outset many critics said could not be done.

We're going to resolve as many of these issues as we possibly can.

That's considerably less than some external estimate I've seen.

The work we have done significantly improves United's ability to compete with the best U.S. airlines.

We don't see the industry has reached equilibrium yet.

Bankruptcy gets you a number of tools you can use to improve your financial situation, ... We don't think there are any more tools we can use.

This validates our business plan and demonstrates that despite the fact that the industry environment has gotten tougher, the United business plan can attract even more all-debt exit financing than it could last winter.