Compared are the Theatrical Version (German Pay TV broadcast on MGM) and the US Extended Version (UK Laserdisc).

Duration Theatrical Version (German Pay TV broadcast): 103.31 min
Duration US Extended Version (UK Laserdisc ): 109.54 min

Time index refers to the uncut version.

The Theatrical Version lacks a some plot, the violence remains uncut though.

5.55
The phone conversation continues. Subsequently afterwards, Erica sits by her daughter Laurie at the table. Laurie complains about everything being cold now. The mother tries to explain to her that the call was important. They then talk a little longer about her parents' divorce. Erica tries to cheer Laurie up with the fact that they will be in Australia soon.
99 sec

9.56
Freddy's phone conversation with Bud is longer as well: Freddy tries to be a real tough guy on the phone.
18 sec

11.03
Subsequnt to the scene with John being told to go to bed with the suit he is currently wearing some day, the Theatrical Version lacks a small scene with a further guy being brought to the station. He then speaks with one of a guards.
18 sec

13.55
Erica walks up to Josh and Q.T. and they have a talk. Erica then apologizes and leaves. Also, the men will encounter Joe Pedowski for the very first time.
28 sec

16.39
Due to a jump cut on the US Laserdisc, the US Extended Version lacks a shot of Erica letting go of her daughter. In addition to that, the following shot still lacks a few frames.
+ 2 sec

20.02
Recut when Freddy orders Bud to launch the rocket and Bud responds with scepticism: The Theatrical Version lacks Bud picking up the phone resp. this does not occur until after Freddy has hung up.
This has been altered for continuity reasons: At this point, the Theatrical Version lacks a bigger sequence. With the subsequent scene with Freddy, the versions are back in sync.
Here is what is missing: Cody and Erica are talking in the back of plane. Among other things, they talk about Erica's daughter. It is being implied that Cody is the dad. Erica then apologizes and runs off (probably close to tears). As stated before, the versions are back in sync from this point on: Now, Freddy calls over the flight attendant.
66 sec

43.03
Cody a little longer.
2 Sec

45.59
Now the astronaut longer.
6 sec

58.00
Jump cut on the UK Laserdisc: Erica returns to the back.
+ 1.5 sec

59.12
The guy at the station radios for Cody.
1.5 sec

75.45
Further scenes of the passengers in the tube.
22 sec

79.39
Another scene with Cody and Erica is missing. At first, they discuss previous events for a bit. In tears, Erica then hugs Cody and says she loved him. They kiss.
124 sec