Travel industry recovery from attacks on the US

[dbaker]

Hotel layoffs bottom out, re-hiring still on horizon

LOS ANGELES, Oct 9 (Reuters) - About a third of unionized U.S. hotel workers -- about 120,000 people -- have lost their jobs nearly one month into the travel crisis that has swept the industry, but officials said on Tuesday that most payroll cuts are now complete.

[dbaker]

Hotel layoffs bottom out, re-hiring still on horizon

LOS ANGELES, Oct 9 (Reuters) - About a third of unionized U.S. hotel workers -- about 120,000 people -- have lost their jobs nearly one month into the travel crisis that has swept the industry, but officials said on Tuesday that most payroll cuts are now complete.

[dbaker]

Airlines to Get Another $2B in Funds

WASHINGTON (AP) -- The Transportation Department said it plans to distribute almost $2 billion more to the nation's airlines to help compensate them for their financial losses following last month's terrorist attacks.

The money will be allocated based on each carrier's market share or its actual losses as a result of the terrorist attacks, the DOT said Thursday. Airlines have 14 days to apply.

The department already has given $2.4 billion in taxpayer funds to 111 carriers, including $391 million to United Airlines, $359.4 million to American Airlines and $327 million to Delta.

[dbaker]

Airlines to Get Another $2B in Funds

WASHINGTON (AP) -- The Transportation Department said it plans to distribute almost $2 billion more to the nation's airlines to help compensate them for their financial losses following last month's terrorist attacks.

The money will be allocated based on each carrier's market share or its actual losses as a result of the terrorist attacks, the DOT said Thursday. Airlines have 14 days to apply.

The department already has given $2.4 billion in taxpayer funds to 111 carriers, including $391 million to United Airlines, $359.4 million to American Airlines and $327 million to Delta.

[dbaker]

Continental Air Posts Profit

NEW YORK (Reuters) - Continental Airlines Inc. (NYSE:CAL - news), the No. 5 U.S. air carrier, on Wednesday posted a third-quarter profit, saved by $243 million in federal grants aimed at helping the troubled airline industry stave off the sharp travel decline after the Sept. 11 attacks.

Houston-based Continental reported an operating loss of $97 million, or $1.76 per share, compared with a profit of $135 million, or $2.21 per share a year earlier. Including $243 million in cash payments from a federal bailout program, Continental earned $3 million, or 5 cents per share.

[dbaker]

A Record Loss at US Airways

US Airways Group Inc. said yesterday that it lost $766 million in the third quarter, the biggest quarterly loss in its 61-year history.

The results include the $331 million the Arlington-based airline received from the federal government to compensate for losses resulting from the Sept. 11 terrorist attacks.

The loss amounted to $11.42 a share. In the third quarter of last year, US Airways lost $30 million, or 45 cents a share.

[dbaker]

Continental Air Posts Profit

NEW YORK (Reuters) - Continental Airlines Inc. (NYSE:CAL - news), the No. 5 U.S. air carrier, on Wednesday posted a third-quarter profit, saved by $243 million in federal grants aimed at helping the troubled airline industry stave off the sharp travel decline after the Sept. 11 attacks.

Houston-based Continental reported an operating loss of $97 million, or $1.76 per share, compared with a profit of $135 million, or $2.21 per share a year earlier. Including $243 million in cash payments from a federal bailout program, Continental earned $3 million, or 5 cents per share.

[dbaker]

A Record Loss at US Airways

US Airways Group Inc. said yesterday that it lost $766 million in the third quarter, the biggest quarterly loss in its 61-year history.

The results include the $331 million the Arlington-based airline received from the federal government to compensate for losses resulting from the Sept. 11 terrorist attacks.

The loss amounted to $11.42 a share. In the third quarter of last year, US Airways lost $30 million, or 45 cents a share.

[dbaker]

11,000 Delta Workers Opt to Leave

ATLANTA (AP) -- About 11,000 Delta Air Lines employees have decided to leave the company through early retirement or voluntary leave programs, meaning the company will lay off only 2,000 people, company executives said Wednesday.

The nation's third-largest airline is eliminating 13,000 jobs as part of a broader effort to reduce its operations because of dramatically less traffic after the Sept. 11 terrorist attacks.

About 4,200 employees chose to retire early, many lured by a company offer to add five years to their service records for better pension benefits, said Mark Baxter, a Delta human resources general manager. Delta also will pay their health insurance premiums.

[dbaker]

11,000 Delta Workers Opt to Leave

ATLANTA (AP) -- About 11,000 Delta Air Lines employees have decided to leave the company through early retirement or voluntary leave programs, meaning the company will lay off only 2,000 people, company executives said Wednesday.

The nation's third-largest airline is eliminating 13,000 jobs as part of a broader effort to reduce its operations because of dramatically less traffic after the Sept. 11 terrorist attacks.

About 4,200 employees chose to retire early, many lured by a company offer to add five years to their service records for better pension benefits, said Mark Baxter, a Delta human resources general manager. Delta also will pay their health insurance premiums.