Delta Air Lines Inc, the third-largest US passenger carrier, intends to reduce flights and offer buyouts to 30,000 of its 50,000 employees, the company said Tuesday. ( dpa )
The moves are meant to counter record-high fuel costs and a weakening US economy, chief financial officer Ed Bastian said.
Delta shares rose 18 per cent on the news at one point, Bloomberg financial news service reported.
Delta aims to reduce its staff by 2,000 non-pilot employees, or 3.6 per cent of its work force, and park up to 20 main jets and 25 regional aircraft to trim costs.
Delta emerged from bankruptcy in April and has been in merger talks with Northwest Airlines Corp. Fuel prices have surged 85 per cent in the past year, adding 2 billion dollars to the firm's oil bill this year over last year.
Merrill Lynch analyst Michael Linenberg estimated the nine largest US airlines will lose 1.5 billion dollars this year due to soaring energy costs.