Continental Airlines to cut 3,000 jobs, capacity

[OhioChick]

Source: AP

6/5/2008, 7:40 a.m. EDT
The Associated Press

HOUSTON (AP) — Continental Airlines is cutting 3,000 jobs and reducing capacity in the fourth quarter by 11 percent, citing record fuel costs and an industry in "crisis."

Also, the company's chief executive and president say they will not take a salary for the rest of this year and will decline bonuses.

Houston-based Continental Airlines Inc. will take 67 planes out of service. By the end of the second quarter, Continental will operate 375 mainline aircraft.

Continental says it will provide details on specific flights subject to cuts by the end of next week.



Read more: http://www.mlive.com/newsflash/business/index.ssf?/base/business-83/1212665656140950.xml&storylist=business

[Changenow]

1. At last a CEO who doesn't cash in when

things go south. I'll try to fly Continental whenever possible because of this gesture alone.

[lonestarnot]

5. Well gee, I wonder how much they've taken already.

[lostnfound]

10. I hear .. they ARE decent, capable men.

Very smart. Personable. Follow through on promises.

No, they won't need to brown-bag it because of this. But at least they are doing the right thing. I don't think anyone likes to work for free.

[marmar]

2. To say that it's UGLY in the airline industry right now.....

..... is to say that it's warm in Arizona in July.

[OhioChick]

9. My Thoughts Exactly. n/t

[Conyersfan]

3. American Airlines is now charging for meals

The last straw. I'm not flying anymore.

[Dr.Phool]

4. Just more incentive not to eat that crap.

The only reason that I ate it before, was that it was free.

Pay for it? Screw that. I'll bring my own.

[Art_from_Ark]

18. Just don't bring anything to drink

It'll end up in the Giant Drink Trash Can

[bikebloke]

8. Liked it at one time.

When I was hopping across South and Southeast Asia, I looked forward to airline food. On the ground, it was a crap shoot as to whether or not the food induced the shits. But that was part of the adventure.

[pitohui]

11. everyone else charges for meals (except continental)

continental was advertising, meals at mealtime, but AFAIK they were very much the exception for the last few years

[latebloomer]

12. Not so much

I flew cross-country on Continental summer before last and was given a sorry piece of frozen pizza for dinner.

[pitohui]

14. "given," you say, "given" implies it was free

the same sorry piece of pizza is $5 on most airlines and still not worth the eating

[Skink]

6. Nationalize the industry and tap the oil reserves for awhile

this is an area that should be considered self defense.

[Psephos]

15. You want the same people who brought us $400 billion deficits to run airlines?

Ohhhhhhhkaaaaaayyyyyy

[Skink]

16. Next administration.

;-)

[Psephos]

17. I agree, that will be a sea change :-)

[liberal N proud]

7. If Continental is hurting, then the industry is at catastrophe status

Continental has the most fuel efficient fleet and in recent years has been able to grow where other airlines could not.

[4dsc]

13. So peak oil starts in earnest...

I wonder how many peak oil predictions are going to come true in the next year alone.. This is only the beginning of trouble and sign of things to come for serveral decades..

[blitzen]

19. I didn't know that Continental had any employees...

From my recent experiences flying Continental, I figured they only had pilots and a few flight attendants. I don't think they have any baggage handlers or customer service people. Well, that's what it seemed like when it took them 4 days to get my bags to me on a recent trip to the Grand Canyon. Good thing it was a 5-day trip, so I could wear clean clothes on the flight home.