US Airways to Slash 1,000 Jobs, Cut Flights to Europe

[marmar]

US Airways to Slash 1,000 Jobs, Cut Flights to Europe (Update1)
By Mary Jane Credeur and Mary Schlangenstein


Oct. 28 (Bloomberg) -- US Airways Group Inc., the smallest full-fare U.S. airline, will cut 1,000 jobs as it drops 44 percent of daily flights from Las Vegas and ends Philadelphia service to five European cities to help stem losses.

Crew bases in Boston, New York and Las Vegas will be shut, and flights will end to Colorado Springs, Colorado, and Wichita, Kansas, US Airways said today. The job losses, about 3 percent of the workforce, will come in 2010’s first half.

Chief Executive Officer Doug Parker made the pullbacks to focus on the airline’s hubs in Philadelphia, Phoenix and Charlotte, North Carolina, and its base at Washington’s Reagan National Airport. Parker is working to return US Airways to profit after net losses in seven of the past eight quarters.

“These are painful but necessary cuts if the company is going to have a chance to return to profitability,” said Douglas Runte, managing director of Piper Jaffray & Co. in New York. Its competitive position remains “exceptionally challenging,” said Runte, who doesn’t rate the stock.

US Airways rose 3 cents to $3.17 at 2:33 p.m. in New York Stock Exchange composite trading. The Tempe, Arizona-based company has tumbled 59 percent this year for the worst decline among the 12 carriers in the Bloomberg U.S. Airlines Index. .........(more)

The complete piece is at: http://www.bloomberg.com/apps/news?pid=20601087&sid=aU0NJhgiWMrk

[uppityperson]

I am sorry for those losig their jobs. USAirways really sucks as an airline though

[Initech]

1. If they didn't nickel-and-dime us to death they might be doing better.

I absolutely hate that airline. I've never had good service with them.

[tabatha]

2. That may help CO2 levels.

[Barack_America]

3. More American jobs lost; Wall Street rejoices. nt

[enlightenment]

4. Well, I guess that decides my

'cheaper but hideous 12-14 hour two-stage trip from LV to London' (USAir)
or
'pricier but infinitely better 9.5 hour direct from LV to London' (Virgin)

My wallet may be screaming, but my heart is lighter!

[flyarm]

5. ALL THE AIRLINES ARE SLOW..people are not traveling , as well as not shopping

and 6 million out of work..it is all across the board in this country..and our dollar isn't worth shit against the Euro or any other currency..so people are not traveling abroad as much.

I am going out of the country next week and i just got a notice from the carrier I am traveling that 1st bag is free.. second bag..50 bucks..remember when they charged originally for bags it was because fuel was high..now it is happening with all the carriers, across the board..because they can make up some of the losses that way.

Oh and it is 50 bucks leaving the USA , coming back it is 50 euro..

For women this sucks because it used to be 70lbs..now it is 50 lbs per that one bag..and that now includes your hair and makeup products as well in your suitcase because you can't carry on but 3oz of liquid products...