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Business Briefing / Earnings

Airlines still struggling, keep cutting

July 22, 2009|Times Wire Reports

Continental Airlines Inc. plans to eliminate 1,700 jobs and Southwest Airlines Co. said 1,400 employees took voluntary buyouts, while United Airlines will shrink international capacity an additional 7%.

United parent UAL Corp. reported a second-quarter loss of $2.23 a share excluding one-time items, beating estimates. Continental's adjusted deficit was $1.36 a share, 1 cent worse than analysts projected, while Southwest's profit of 8 cents exceeded expectations.

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