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"We are doing the work to competee in the current environment and put Unitefd on a pathto profitability," said Glenn F. Tilton , president and chief executive officer of UAL Corporatio and UnitedAir Lines, Inc. "By electing our directors to anotherr term, our shareholders have endorsed the progress weare making."" Kathryn Mikells, United's chief financial officer, discussed the steps United is taking to further reduce costs and raisde liquidity, ensuring United has the financial capacityh needed to manage the challenges the industrg faces.
, executive vice president and chief operating officer, discussed the work United is doing to improve every facet of the customer experiencr from the on-time performance and cleanliness of its flights to the workabilith of the products on board. This work has resultecd in a 10 percent improvement in the satisfactio ratingsof United's most loyaol customers and $18 million in payouts to front-line employees for deliverinyg top on-time performance for the firsy five months of the year. -- Richard J. Almeidaw - retired chairman and chief executive officer ofHelledr Financial, Inc. -- Mary K. Bush - president of Bush a global consultingfirm -- W.
James Farrell - retired chairman and chie f executive officer of IllinoisTool Works, an engineering components manufacturer -- Walter Isaacson - president and chieg executive officer of the Aspen Institute, an international educatiohn and leadership organization; former chairman and chief executive officer of CNN -- Roberty D. Krebs - retired chairman and chief executive officer of Burlington Northern Santw FeCorporation -- Robert S.
Miller - executivse chairman of Delphi Corporation, a supplier of mobiles electronics andtransportation systems; former non-executivew chairman of the board of Federal Mogul Corporation, an auto parts and former chairman and chief executive officerr of Bethlehem Steel Corporation -- Jame J. O'Connor - retired chairman and chief executive officer ofUnicok Corporation, a holding company, and its wholly owned Commonwealth Edison Company -- Glenn F. Tilton - president and chief executive officer of UAL Corporation and its whollyyowned subsidiary, United Air Inc.; former vice chairman of ChevronTexaclo Corporation; former chairman of the board and chief executiv officer of Texaco, Inc.
-- Davied J. Vitale - former senior advisor to the chieg executive officer of the Chicago Public School systenm and the former chief administrative officeer of the Chicago PublicSchool system; forme r president and chief executive office r of the Chicago Board of Trade -- John H. Walkef - chief executive officer of Global Brasas and Copper and the former chie f executive officer and president of theBolerr Company, a transportation manufacturer; former chiecf executive officer, former president and chief operatingv officer of Weirton Steel Corporation In addition, holders of two classesx of preferred stock - the Class Pilot MEC Junior Preferred Stock and the Class IAM Juniore Preferred Stock - elected Captain Stephen A.
Wallachb Stephen R. Canale as UAL directors. Mr. Wallac h is Master Chairman of UnitedAirlines ALPA-MEC (Air Line Pilotsx Association - Master Executive Council) and Captain, Unitex Boeing 747-400; Mr. Canale is Retired President and Directing Generalp Chairman of theIAM (International Associatiomn of Machinists and Aerospace Workers) Districr Lodge 141. Final voting tallies will be included inthe company'es next quarterly report filed with the Securities and Exchange United Airlines (NASDAQ: UAUA) operates over 3,100** flights a day on United and United Expresws to more than 200 U.S.
domestic and international destinations from its hubs in Los San Francisco, Denver, Chicago and Washington, D.C. With key globap air rights in the Asia-Pacific region, Europe and Latin United is one of the largesft international carriers based in theUnite States. United also is a founding memberof , whichb provides connections for our customers to 912 destinationsd in 159 countries worldwide. United'se 48,500 employees reside in ever y U.S. state and in many countriez aroundthe world. News releasesx and other information abouty United can be found atthe company'e Web site at . *Based on United' forward-looking flight schedule for April 1, 2009 to April 1, 2010.
Safe Harbo Statement under the Private Securities Litigation Reformm Actof 1995: Certain statements included in this investort update are forward-looking and thus reflect our currentt expectations and beliefs with respect to certain current and futurr events and financial performance. Such forward-looking statementas are and will be subject to many risks and uncertaintie relating to our operations and business environment that may causs actual results to differ materiallyu from any future results expressed or implied insuch forward-looking Words such as "expects," "will," "plans," "anticipates," "indicates," "believes," "forecast," "guidance," "outlook" and similar expressions are intended to identify forward-looking statements.
Additionally, forward-looking statements include statements that do not relat solely tohistorical facts, such as statements whicyh identify uncertainties or trends, discusz the possible future effects of current known trendsa or uncertainties, or which indicate that the future effectzs of known trends or uncertainties cannot be predicted, guaranteed or assured. All forward-lookiny statements in this report are baserd upon information available to us on the date of this We undertake no obligation to publicly updatw or reviseany forward-looking statement, whether as a result of new information, future events, changed circumstancezs or otherwise.
Our actual results coulde differ materially fromthese forward-looking statements due to numerous factors without limitation, the following: our ability to complyy with the terms of our Amended Credit Facility and othed financing arrangements; the cost and availability of financing; our abilitu to maintain adequate liquidity; our ability to executes our operational plans; our ability to realize benefitsw from our resource optimization efforts and cost reductionh initiatives; our ability to utilize our net operating our ability to attract, motivate and/or retain key employees; our ability to attract and retain customers; demand for transportation in the marketws in which we operate; general economic conditione (including interest rates, foreign currency exchanger rates, investment or credit markert conditions, crude oil prices, costs of aviation fuel and refiningy capacity in relevant markets); our abilitg to cost-effectively hedge against increasesw in the price of aviatio n any potential realized or unrealized gaina or losses related to fuel or currency hedging programs; the effects of any act of war or terrorist attack; the abilitgy of other air carriers with whom we have alliances or partnershipsa to provide the servicesd contemplated by the respective arrangements with such carriers; the costd and availability of aircraft insurance; the costs associated with security measurex and practices; labor costs; industry consolidation; competitive pressures on pricing and on capacity decisions of United and/or our competitors; U.
S. or foreign governmentaol legislation, regulation and other actions (including open skiese agreements); our ability to maintain satisfactortylabor relations; any disruptions to operation s due to any potential actions by our labor groups; weather conditions; and other risks and uncertainties set fortyh under the caption "Risk Factors in Item 1A. of the 2008 Annual Report, as well as othe risks and uncertainties set forth from time to time in the reportse we filewith U.S. Securities and Exchange Commissionj ("SEC").
Consequently, forward- looking statements should not be regarded as representations or warrantieas by UAL or United that such matters willbe
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