00:00Scott, great to see you after a quarter where you did beat expectations but cut guidance.
00:04We'll get into all the numbers.
00:05I want to start with the big news over the past couple of weeks.
00:09Are you going to buy American Airlines?
00:11Well, thanks for being here in person, Lisa.
00:15And first, I'm not going to comment on that.
00:16But I will tell you a little bit about, repeat some of the things that I've said in the past.
00:21And first, it was a great quarter.
00:23Even though fuel prices doubled, you know, the team at United did an incredible job.
00:27And really, you look at full guidance, giving guidance for the full year, being able to be solidly profitable, even
00:32in this escalating fuel price environment, I think is really the entree to where we want to go for the
00:36future, which is we've built a brand-loyal airline by attracting customers, by giving them quality, by giving them value,
00:43an airline that customers love.
00:44And that, you know, gives us resilience in tough times.
00:48But it also lets us think about what's the next phase for United Airlines.
00:52And we've spent, you know, the last couple of years thinking about, you know, proving that this strategy to win
00:56a brand-loyal customer works.
00:58But how do we become a truly globally competitive airline?
01:01And I don't have the answers yet.
01:02I'm not seeing anything specific about what they are.
01:04But today, there's a big trade deficit in the United States with foreign-flagged airlines.
01:09And they fly 65% of the long-haul seats into the U.S., even though only 40% of
01:13the customers are foreigners.
01:14And that trade deficit is bad for United Airlines.
01:16It is bad for U.S. aviation.
01:19It's bad for U.S. workers because we actually create some of the really best jobs with the best benefits
01:24in the country, not just jobs but careers.
01:26And it's bad for the United States of America.
01:28And so I would like to solve that and create a truly global, great airline that all U.S. citizens
01:34can be proud of.
01:34So it's important, in other words, for the United States to fortify its airline industry with the competitor in mind,
01:40not necessarily of the big three in the U.S. of American, United, and Delta, but internationally with some of
01:46the long-haul carriers that you see as really the main competition for the United States.
01:49Is that correct?
01:50You know, I feel like what we at United have done here in the United States by building a brand
01:54-loyal airline, you know, we really have attracted all the brand-loyal, certainly in our hubs, we've attracted the brand
02:00-loyal customers.
02:01And we've won huge market share kind of everywhere that we fly by being better, by being high quality.
02:07And that's what's caused us to win.
02:09And I think the next phase for us is can we take that around the globe?
02:12Can we do that everywhere that we fly?
02:15And, look, there's some really good airlines in the Middle East.
02:17There's some really good airlines in Asia.
02:19They do some things better than us.
02:20But can we create a U.S. airline?
02:23And I don't have the answer.
02:24I'm not 100% sure we can do it and not proposing any specifics today.
02:27Of course.
02:27But it's an aspirational vision that I think United is in a unique position to go after because of the
02:33success we've had, because our people are great, because of the investments we've made in product and technology to get
02:38there.
02:39And because we have the willingness to try to do big things, that we are in a unique position to
02:45try to achieve that and do something big for United but also for the country.
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