NEW YORK, March 18 (UPI) -- Delta Air Lines announced Tuesday it will park jets and cut jobs in an effort to keep costs in check during an era of escalating fuel costs.
"We are committed to getting our costs out of the business," Delta President Ed Bastian said in New York in a meeting with investors. The Atlanta-headquartered airline said projected jet fuel costs are $900 million above its previous projection, the Atlanta Journal Constitution reported.
Delta, the nation's third largest air carrier, will cut 2,000 jobs, mostly through attrition and offer severance payouts to 30,000 of the company's 50,000 employees, the newspaper said.
Bastian said the airline "will not have any involuntary furloughs of frontline employees."
The slowdown also affects aircraft. Delta said it would park as many as 45 jets in an effort to trim costs by as much as $550 million.
|Additional Business News Stories|
BUENOS AIRES, May 21 (UPI) --To the joy of neighboring rivals, Argentina's beef exports are dwindling and traders blame government policies.
MUSCAT, Oman, May 21 (UPI) --The Persian Gulf sultanate of Oman is set to buy a $2.1 billion missile system built by the U.S. Raytheon Co. as part of a U.S. drive to install a coordinated air-defense system linking the region's Arab monarchies to counter Iran.