Yes, we will revail, QL!

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Airlines to Lay Off Thousands of Workers
As Business-Travel Bookings Plummet

Major airlines moved to furlough thousands of workers as business-travel bookings have dropped to a dribble and reservations for leisure trips have almost disappeared following last week's terrorist attacks on the World Trade Center and the Pentagon.

Wednesday, UAL Corp.'s United Airlines said 20,000 of its 98,000 employees will be laid off. AMR Corp.'s American Airlines said it will slash at least 20,000 of its 138,000 jobs. The cuts have been expected in light of last week's unprecedented grounding of the air-travel system and passengers' reluctance to return to the skies. But it didn't make the result any easier. Don Carty, American's chairman and chief executive, called the experience "heartbreaking." Further, he said, the urgency of the situation prevented the company from offering other options, such as early-retirement plans.

Continental Airlines previously said it would furlough 12,000 workers. Continental President Larry Kellner said groups and conventions are canceling reservations, planes are only 40% full, and the airline, which had $2.4 billion in revenue in the fourth quarter last year, expects only half that much in the final three months of this year. New reservations are just 30% to 50% of normal levels, Mr. Kellner said.

National Airlines found one solution: It offered trips for as little as $1 one way.

http://public.wsj.com/sn/y/SB1000930651384756400.html