|
US Air cuts flights
|
 |
October 3, 2001: 4:43 p.m. ET
Carrier reduces schedule by 23% due to terrorist attack; confirms job cuts
|
NEW YORK (CNNfn) - US Airways disclosed Wednesday that it will reduce its flight schedule by 23 percent and retire some aircraft. The company also reiterated plans to eliminate 11,000 jobs.
Arlington, Va.-based US Airways will retire three types of fleets – the B-737-200, the F-100 and the MD-80. The airline has also shut four reservation centers and 40 city ticket offices.
The troubled airline cited the continued effect of the Sept. 11 terrorist attacks which caused the suspension of commercial flights for nearly three days. Revenue passenger miles for US Airways dropped 33.4 percent to 2.6 million in September, while its passenger load factor was 56.1 percent, a drop of nearly 11 percent points from September 2000.
US Airways Group (U: up $0.23 to $5.37, Research, Estimates) had $1 billion in cash in hand as of Sept. 30, but expects to receive about $180 million from U.S. government under Air Transportation and System Stabilization Act.
US Air has experienced an increase in passenger booking since the attack but the total remains well below trends, the company said. 
|
|
|
|
|
 |
|
