BUSINESS BRIEFING / EARNINGS
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.
