Delta Cutting Costs

A senior official told investors today that Delta
Air Lines plans to cut costs to deal with higher fuel prices.
President and Chief Financial Officer Ed Bastian said at an
investor conference in New York that the board of the Atlanta-based
company is still evaluating whether to enter into a deal.
Bastian said the value to shareholders of remaining a standalone
carrier versus a combination are being considered. He did not say
when the review would be complete, and analysts at the conference
did not ask him to elaborate.
Delta shares fell $1.18, or 6 percent, to $18.40 in morning
trading.
Bastian says cost cuts will be key to helping Delta deal with
higher fuel prices. He noted that jet fuel prices are up nearly 50
percent since the beginning of 2007. He suggested the company could
make job cuts, but he didn't offer any numbers or specifics.
The airline also has instituted a partial hiring freeze.