Continental airlines was reported on Thursday that it will cut up to 3000 jobs and retire 67 less fuel efficient planes due to the soaring fuel cost.
Continental said it would remove the least-efficient aircraft from its network by accelerating the retirement of its Boeing 737-300 and 737-500 fleets. By the end of 2009, all 737-300 aircraft will be retired from Continental's fleet.
Continental said it would continue to take delivery of new, fuel-efficient Boeing 737-800s and 737-900ERs.
By the end of the second quarter of 2008, Continental said it would operate 375 mainline aircraft. Taking into account both the accelerated retirements and scheduled deliveries, Continental's fleet count will shrink to 356 aircraft in September 2008 and 344 aircraft at the end of 2009.
This announcement came a day after rival United Airlines said it was removing 100 aircraft, or about 20 percent of its fleet, from operations and cutting up to 1,100 additional jobs by the end of the year in a bid to compete in the crisis.