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| Version 1 | Version 2 |
|---|---|
| Continental makes 1,700 job cuts | Continental makes 1,700 job cuts |
| (about 5 hours later) | |
| Continental Airlines has said that it is to cut 1,700 jobs amid a slump in revenue and passenger numbers. | Continental Airlines has said that it is to cut 1,700 jobs amid a slump in revenue and passenger numbers. |
| The airline is also increasing its fees for checking in bags and for making reservations by telephone. | The airline is also increasing its fees for checking in bags and for making reservations by telephone. |
| The airline lost $213m (£129.9m) between April and June, after many business passengers put off travel or bought cheaper tickets. | The airline lost $213m (£129.9m) between April and June, after many business passengers put off travel or bought cheaper tickets. |
| Other US rivals fared better, with both United and Southwest reporting profits for the same period. | |
| UAL, United's parent firm, said it made a second-quarter profit of $28m - or 19 cents a share - thanks to fuel hedge gains, accounting charges and other one-off items. | |
| However, without those gains, it would have made a quarterly loss of $2.23 a share, or $328.6m in total. | |
| UAL said it would be cutting its international flight capacity by 7% in the last four months of 2009. | |
| Travel trouble | |
| For its part, Southwest reported its first quarterly profit in a year, with earnings of $54m. | |
| However, that was sharply down on the same period in 2008, when it made $321m. | |
| Continental said its job cuts, which will include management and clerical positions, could save the firm $100m by next year. | |
| The staff cuts were part of "aggressive steps to increase revenue and reduce costs", Continental's chief executive Larry Kellner said. | The staff cuts were part of "aggressive steps to increase revenue and reduce costs", Continental's chief executive Larry Kellner said. |
| The carrier had previously cut 500 jobs for reservation agents and given leave of absence to 700 flight attendants. | The carrier had previously cut 500 jobs for reservation agents and given leave of absence to 700 flight attendants. |
| Many global airlines have been struggling as demand for air travel has fallen during the global economic downturn, with particular decline in business-class and first-class travel. | Many global airlines have been struggling as demand for air travel has fallen during the global economic downturn, with particular decline in business-class and first-class travel. |