We are in intensified negotiations with union leaders in order to reach consensual agreements that reduce labor costs by $1.4 billion annually.

We remain open to exploring various options to attain the needed labor costs savings but we need to resolve the issue quickly.

This is not a paradigm shift. This doesn't say anything about the swing in power between management and labor. This is a circumstance that pertains to the nature of negotiations between Northwest and one of its unions. It doesn't indicate a pattern or precedent that is likely to continue with other unions.

To operate at a profit, we must invest in these aircraft, and we must do so quickly.

Realizing these goals will result in $2.5 billion in overall profit improvement.

Our third-quarter results clearly demonstrate the need for Northwest to restructure expeditiously.