Continental Airlines to cut 3,000 jobs

US based Airline Company Continental Airlines has announced that they would be cutting as many as 3000 jobs in their operations.

This would amount to around 6.5 percent of its work force.

The airline company also has plans to retire 67 old planes from their fleet as they are struggling in the market due to soaring aviation fuel prices.

The company management wrote in a message to employees: “The airline industry is in a crisis. Its business model doesn’t work with the current price of fuel and the existing level of capacity in the marketplace. We need to make changes in response.”

They would start using new, more fuel-efficient 737 in place of the planes they are retiring.

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