I booked my tickets about 11 months in advance. I booked on Continental though, and they are one of the more financially stable airlines. If you are concerned about airline stability, you may be able to look up online their fincail information. If it is a publicly traded company, you will be able to find it.
So much for that theory, check this out.....
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Continental has become the latest US airline to announce a series of job and fleet cuts in an attempt to fight the rising cost of fuel. The below is a memo released to all CO employees from Larry Kellner & Jeff Smisek.
Dear Co-worker:
We've always said that you deserve open, honest and direct communication.
This letter and the attached employee bulletin and Q&A are part of that
commitment.
The airline industry is in a crisis. Its business model doesn't work with
the current price of fuel and the existing level of capacity in the
marketplace. We need to make changes in response.
While there have been several successful fare increases, those increases
haven't been sufficient to cover the rising cost of fuel. As fares increase,
fewer customers will fly. As fewer customers fly, we will need to reduce our
capacity to match the reduced demand. As we reduce our capacity, we will need
fewer employees to operate the airline. Although these changes will be
painful, we must adapt to the reality of today's market to successfully
navigate these difficult times.
The attached employee bulletin and Q&A outline some of the steps we are
taking to address this industry crisis. The situation for all airlines is
serious, and the actions we are announcing today are necessary to secure our
future. We regret the loss of jobs caused by this crisis, and we will do our
best to minimize furloughs and involuntary terminations.
These actions will help Continental survive this crisis. You have our
ongoing commitment to keep you informed as the industry evolves and adapts to
these unprecedented challenges. It is important that we all keep our focus on
working together during these difficult times.
Co-worker Impact
As a result of the capacity reductions, Continental will need fewer
co-workers worldwide to support the reduced flight schedule.
About 3,000
positions, including management positions, will be eliminated through voluntary and involuntary separations, with the majority expected to be through voluntary programmes
Network Changes
Starting in September, at the conclusion of the peak summer season,
Continental will reduce its flights, with fourth quarter domestic mainline
departures to be down 16 percent year-over-year. This will result in a
reduction of domestic mainline capacity (available seat miles, or ASMs) by 11
percent in the fourth quarter, compared to the same period last year.
By the end of next week, Continental will provide details on specific
flights and destinations that are subject to reduction or elimination. For
additional information on departures and capacity for 2008 and 2009.
Net Net Total @ Changes Total @ Changes Total @
6/30/08E 2H08E YE 2008E 2009E YE 2009E
Mainline Jets
777-200ER 20 - 20 2 22
767-400ER 16 - 16 - 16
767-200ER 10 - 10 - 10
757-300 17 - 17 - 17
757-200 41 - 41 - 41
737-900ER * 10 10 20 18 38
737-900 12 - 12 - 12
737-800* 111 6 117 - 117
737-700 36 - 36 - 36
737-300** 47 (24) 23 (23) -
737-500** 55 (13) 42 (7) 35
Total Mainline 375 (21) 354 (10) 344
* Final mix of new 737-800/-900ERs are subject to change
** Final mix and quantity of 737-300 / 737-500 exits subject to change
for the 3 of us, so I prefer paying 200 more and fly from my home town.
