atlanta - based georgia air lines announce plans to cut 7 , 000 to 9 , 000 jobs by the end of 2007 , approximately 17 % of its jobs . ceo gerald grinstein will see a 25 % pay down . executives have their pay cut by 15 % . other employees will have their paid reduced by 7 to 10 % . aircraft that makes less than $ 25 , 000 a year will not be harmed by these compensation restrictions . company has already cancelled leases on 40 aircraft and they plan to reduce its crew by at least 80 more . they plan to reduce domestic capacity by 15 to 20 planes and reduce international facilities by 25 people .
European Airlines are cutting jobs.