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Delta seeks voluntary buy-outs to cut aviation jobs
Around 2,000 aviation jobs are to be lost at Delta Air Lines, after the carrier posted a 58 per cent fall in revenues caused by rising oil prices.
The airline has sought out employees willing to take voluntary buy-outs from their jobs, and is also scaling back its overall capacity in the forthcoming months, in a bid to combat the pressure of the economy. The five per cent cut back in capacity set for the last quarter of 2011 is more than the four per cent that had previously been forecast for the cutbacks.
The carrier is also looking at retiring the least fuel-efficient aircraft from its fleets and halting some of its least used services.
Matthew Jacob, senior airlines analyst at ITG Investment Research, said, “The challenge to the airlines right now is absorbing higher fuel costs. It’s hard to overlook the silver lining that higher oil prices have on the industry at large in that it really forces the airlines to be more disciplined with costs and with capacity plans.”
Delta chief executive, Richard Anderson, said that they were considering adding a “modest” number of new jets to replace the retired ones. When asked by aviation analysts what “modest” meant, he said, “Modest means living within our means,” but declined to be more specific.
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