The outlook is bleak
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Join Date: Apr 2001
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The outlook is bleak
It is not a good time in the flying business, unless you do it purely for fun!
American Airlines owner AMR Corporation, cut 20,000 jobs, shared between American and a number of smaller subsidiaries.
United Airlines cut 20,000 jobs.
Aircraft giant Boeing plans to cut up to 30,000 jobs by the end of next year.
US Airways cut 11,000 jobs and slashed its schedule by 23%.
Continental cut 12,000 staff, reduced its schedule by 20% and postponed the flotation of its ExpressJet unit.
United Airlines, Delta, Air Canada, American Airlines and American Air Trans all cut schedules by 20%.
Northwest said they would announce cutbacks later this week.
Midwest Airways said it would abandon financial restructuring and proceed with bankruptcy immediately.
Avionics manufacturer Honeywell said it would eliminate 12,000 jobs, almost 4,000 more than previously announced.
British transatlantic carrier Virgin Atlantic shed 1,200 jobs.
Dutch KLM and Spain's Iberia both warned the attacks could lead them to report losses.
German Lufthansa cut three of its transatlantic routes and said it was freezing hiring.
Belgium's Sabena has said that it will not last beyond the end of the year unless it manages to restructure.
Scandinavia's SAS, which saw its entire board resign on Monday due to an unrelated cartel scandal, said it would cut capacity in relation to the US crisis.
Irish airline Aer Lingus announced that it was to cut its operations by 25% and would let go more than 600 temporary staff.
Air France said it was freezing hiring and retiring 17 planes from service.
Have a nice day
American Airlines owner AMR Corporation, cut 20,000 jobs, shared between American and a number of smaller subsidiaries.
United Airlines cut 20,000 jobs.
Aircraft giant Boeing plans to cut up to 30,000 jobs by the end of next year.
US Airways cut 11,000 jobs and slashed its schedule by 23%.
Continental cut 12,000 staff, reduced its schedule by 20% and postponed the flotation of its ExpressJet unit.
United Airlines, Delta, Air Canada, American Airlines and American Air Trans all cut schedules by 20%.
Northwest said they would announce cutbacks later this week.
Midwest Airways said it would abandon financial restructuring and proceed with bankruptcy immediately.
Avionics manufacturer Honeywell said it would eliminate 12,000 jobs, almost 4,000 more than previously announced.
British transatlantic carrier Virgin Atlantic shed 1,200 jobs.
Dutch KLM and Spain's Iberia both warned the attacks could lead them to report losses.
German Lufthansa cut three of its transatlantic routes and said it was freezing hiring.
Belgium's Sabena has said that it will not last beyond the end of the year unless it manages to restructure.
Scandinavia's SAS, which saw its entire board resign on Monday due to an unrelated cartel scandal, said it would cut capacity in relation to the US crisis.
Irish airline Aer Lingus announced that it was to cut its operations by 25% and would let go more than 600 temporary staff.
Air France said it was freezing hiring and retiring 17 planes from service.
Have a nice day
Join Date: May 2000
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Here is BA's announcement for anyone interested:
Series of measures announced
British Airways today announced a series of measures to address the anticipated reduction in demand from passengers following the tragic events in the USA last week.
Following a detailed review of the business, the measures include:
A reduction in flying of 10 per cent, in addition to previously announced reductions.
The withdrawal of 20 aircraft from the British Airways operation.
The loss of 7,000 jobs.
The impact of these changes on the British Airways’ network and schedule will be announced in due course.
Chief Executive Rod Eddington said today:”We face exceptional conditions which have forced us to take very tough decisions.
“The tragic events in the USA will undoubtedly have a significant impact on the demand for air travel in the months ahead. We have taken the necessary steps to curtail expenditure and sadly to cut our workforce. Wherever possible we will try to achieve these cuts by voluntary means. We are currently in consultation with our unions.
“Despite the difficult market, our balance sheet remains strong and we are a well-established business. However, we must act now to protect British Airways for the long term.”
A reduction of 10 aircraft from the long-haul fleet will be achieved initially by advancing the retirement of the Boeing 747-200 fleet from Spring 2002 and then by withdrawing other wide-bodied aircraft. Six Boeing 767s and four narrow-bodied aircraft will be withdrawn from the short-haul operation.
Series of measures announced
British Airways today announced a series of measures to address the anticipated reduction in demand from passengers following the tragic events in the USA last week.
Following a detailed review of the business, the measures include:
A reduction in flying of 10 per cent, in addition to previously announced reductions.
The withdrawal of 20 aircraft from the British Airways operation.
The loss of 7,000 jobs.
The impact of these changes on the British Airways’ network and schedule will be announced in due course.
Chief Executive Rod Eddington said today:”We face exceptional conditions which have forced us to take very tough decisions.
“The tragic events in the USA will undoubtedly have a significant impact on the demand for air travel in the months ahead. We have taken the necessary steps to curtail expenditure and sadly to cut our workforce. Wherever possible we will try to achieve these cuts by voluntary means. We are currently in consultation with our unions.
“Despite the difficult market, our balance sheet remains strong and we are a well-established business. However, we must act now to protect British Airways for the long term.”
A reduction of 10 aircraft from the long-haul fleet will be achieved initially by advancing the retirement of the Boeing 747-200 fleet from Spring 2002 and then by withdrawing other wide-bodied aircraft. Six Boeing 767s and four narrow-bodied aircraft will be withdrawn from the short-haul operation.
