AIRLINES

Continental to Reduce Low-Fare Service: The airline said it will pare its widely touted Continental Lite (CALite) operation by at least 20% to help the service turn a profit. But CALite, which is concentrated in the East, does not plan to drop any cities from its routes, said President Gordon Bethune, who was also named chief executive Thursday. Bethune succeeded Robert R. Ferguson III, who reportedly resigned under pressure last week because of CALite’s failure to break even a year after it began.