More Jobs Lost To Rising Price Of Gas

UAL, parent of United Airlines, said Monday it plans to lay off 950 pilots as it prepares to cut domestic capacity to offset soaring fuel prices.

…

The latest layoffs involve nearly 15 percent of United's 6,518 pilots. The carrier has said it plans to cut its staff by 1,400 to 1,600 as it aims to reduce domestic capacity by 14 percent in the fourth quarter.

The airline industry has been battered by record high fuel costs, and major carriers are groping for stability through capacity cuts that enable them to run leaner operations and charge higher fares.