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US Airways matched larger carriers with a plan to shrink its fleet, drop more flights and eliminate 1,700 jobs to counter surging fuel bills. Continental said it will end flights to 15 cities.
The workforce cuts at US Airways pushed the total of U.S. airline job losses announced since May 30 to 9,300. Jet-fuel prices have doubled in the past year, threatening the industry with losses that may reach a record $7.2 billion in 2008.
Continental’s pullback fleshed out last week’s plan to park 67 jets and trim U.S. flying. US Airways more than doubled its previous target for reductions in flights, paring domestic seating capacity by as much as 8 percent by year’s end, and as much as 9 percent more in 2009.
