Delta details planned capacity cuts
ATLANTA (AP) - Delta Air Lines hinted Tuesday that more job cuts could be on the way as it disclosed that it will reduce consolidated system capacity by six percent to eight percent in 2009, compared to the current year. The Atlanta-based carrier's president, Ed Bastian, spoke to investors during a conference in New York. In a regulatory filing ahead of the speech, the world's biggest carrier said domestic capacity in 2009 will be reduced eight percent to 10 percent compared to 2008, while international capacity will be reduced three percent to five percent next year compared to this year. The news comes as a global financial crisis hits airlines hard by reducing demand for seats. Bastian said Delta expects to end the year with $5.6 billion in liquidity. He said Delta is looking into several cash-raising opportunities, though he didn't elaborate. He said more details about that could come when Delta hosts its own investor conference Dec. 9. Delta acquired Northwest Airlines Corp. on Oct. 29. It is in the process of integrating the two carriers' operations. (Copyright 2008 by The Associated Press. All Rights Reserved.) |
WAGT WeatherWAGT WeatherOn Demand
|
This content requires the latest Adobe Flash Player and a browser with JavaScript enabled.
Click here for a free download of the latest Adobe Flash Player.
What's On Tonight Full ScheduleMost Popular
Viewer Poll |

