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Continental Airlines said Thursday it will eliminate 3,000 jobs and reduce flying by 11 percent by year's end, becoming the latest major carrier to make deep cuts to cope with soaring fuel prices.
The airline will shed 67 planes through 2009 from a fleet of about 375. Continental's two top executives, CEO Larry Kellner and president Jeff Smisek, will forgo salaries and incentive pay through the end of the year.
Flight reductions will start in September. Continental is the No 6 airline at Tampa International, carrying 7.5 percent of airport traffic.
On Wednesday, United Airlines said it will retire 70 additional large jets from its fleet of 460 by the end of next year. The cuts will result in layoffs of up to 1,100 managers, salaried employees and contractors, with unspecified layoffs of unionized front-line workers. The airline also will cut routes and flights, mostly in U.S. markets.
Steve Huettel can be reached at huettel@sptimes.com or (813) 226-3384.
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