Jake Brace
Jake Brace
airlines existed united
I think this is a much, much different United Airlines than the one that existed in 2002.
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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.
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Our approach is clearly working, as the numbers show. We have substantially improved our financial performance despite dramatic increases in fuel costs over the last 12 months. And United has one of the best operating records in the industry -- in on-time departures, baggage handling, fewest customer complaints and other areas helping us to outpace the industry in unit revenue.
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The year-over-year improvement in operating profit despite record fuel prices demonstrates United's significantly improved competitiveness. United is well on the way to completing the Chapter 11 reorganization process and emerging as a strong competitor.
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The numbers tell the story. Year to date in 2005, the company's operating earnings improved by over $450 million, despite fuel costs that are $1.3 billion higher than last year. When United exits bankruptcy in February 2006, we will be ready to compete aggressively with the best carriers in a way that is distinctly United.
industry reached
We don't see the industry has reached equilibrium yet.
exit facility response validation
Response to syndication of our exit facility is yet another validation of the substantial and sustainable improvements made during our restructuring.
action both suspect trial
I suspect that the trial has spurred action on both sides,
blazing products terms trail
We are blazing our own trail in terms of what products and offerings we have.
bankruptcy contracts looked measure obviously people setting standard yardstick
We think we're setting the standard for performance. If you see what people have done in other bankruptcies, they've obviously looked at our contracts and things like that as a yardstick to measure their own bankruptcy process.
company determine exchange open recovery trading true value
We'll open trading on an exchange and that will determine what the value of the company will be. That's when you'll be able to determine what the true recovery will be.
critics hard hard-work outset represents three today validation work
Today represents a validation of three years of hard work that at the outset many critics said could not be done.
early generate ignore premium revenue signs value
We're not going to ignore the low-value customer, but we're going to try and generate a revenue premium from the high-value customer. And the early signs of that are very promising.
investing money spending taking time
We are judiciously taking money and investing it in the high-value customer, and at the same time we are not spending any more than we have to on the low-value customer.