Continental Pilots Agree to Cuts: About 3,900...

Continental Pilots Agree to Cuts: About 3,900 Continental Airlines pilots agreed to a temporary pay freeze to help the Houston-based air carrier in its efforts to reorganize under federal bankruptcy law. The pilots also approved such cost-saving measures as deferring bonus payments based on fuel saved during flights, reducing flying hours and trimming the cost of crew meals by 30%. “This accord will make a tremendous positive difference for our company,” Continental Chairman Hollis Harris said in a prepared statement. A company spokesman said he did not know how much money the measures would save for Continental, which filed for Chapter 11 bankruptcy protection in early December.