This article from NYTimes.com has been sent to you by psa188@juno.com. Delta Air Lines to Cut Up to 8,000 More Jobs October 18, 2002 By THE ASSOCIATED PRESS By The Associated Press Delta Air Lines told employees yesterday that it was cutting 7,000 to 8,000 more jobs in an effort to stem financial losses. The chief executive, Leo F. Mullin, told employees that he hoped many of the reductions, which will include management, could come through voluntary leave, early retirement and severance programs. With the latest cuts, Delta has eliminated 21,000 jobs, or 25 percent of its work force, since the terrorist attacks. The cuts come two days after Delta posted a third-quarter loss of $326 million and said it did not see any improvement soon. Most airlines releasing third-quarter results this week have reported losses, citing weak demand and higher costs. The four large airlines that reported earnings yesterday - Continental Airlines, Northwest Airlines, Southwest Airlines and America West - lost a combined $39 million. Southwest, which reported a third-quarter profit of $75 million, warned that its streak of 46 quarters of profitability could come to an end in the fourth quarter. Southwest, based in Dallas, earned 9 cents a share in the quarter, down from $151 million, or 19 cents a share, a year earlier. Revenue was $1.39 billion, compared with $1.34 billion in the quarter last year, which included the terrorist attacks and a shutdown of the aviation system. Excluding a one-time gain of $48 million, Southwest said it earned $50.5 million, or 6 cents a share. On that basis, analysts surveyed by Thomson First Call had expected the carrier to earn 5 cents a share. Continental Airlines, the Houston-based carrier, lost $37 million, or 58 cents a share, in the quarter. The loss was in contrast to a profit of $3 million, or 5 cents a share, a year earlier, when Continental received federal aid. Analysts surveyed by Thomson First Call had expected a loss of 74 cents a share. Revenue fell to $2.18 billion, from $2.22 billion a year earlier. Northwest Airlines, based in Eagan, Minn., reported a net loss yesterday of $46 million or 55 cents a share for the quarter, in contrast to a gain of $19 million, or 20 cents a share, a year earlier. Analysts at Thomson First Call expected a loss of 82 cents a share. Revenue dropped to $2.56 billion, from $2.59 billion a year earlier. The America West Holdings Corporation, based in Tempe, Ariz., the parent of the airline, reported a third-quarter loss of $31 million, or 92 cents a share, in the quarter. The airline lost $31.7 million, or 94 cents a share, a year earlier. Analysts surveyed by Thomson First Call expected a loss of $1.01 a share. Third-quarter revenue rose 6 percent, to $520 million, compared with $491 million a year ago. http://www.nytimes.com/2002/10/18/business/18AIR.html?ex=1035945428&ei=1&en=bb53888d7349ca80 HOW TO ADVERTISE --------------------------------- For information on advertising in e-mail newsletters or other creative advertising opportunities with The New York Times on the Web, please contact onlinesales@nytimes.com or visit our online media kit at http://www.nytimes.com/adinfo For general information about NYTimes.com, write to help@nytimes.com. Copyright 2002 The New York Times Company