atlanta - based delta air lines reportedly contracts to cuts 7 , 000 to 9 , 000 job by the end of 2007 , approximately 17 % of its employees . ceo gerald notebaert will take a 25 % pay cut . managers have their compensation cut by 15 % . other jobs will have their pay reduced by 7 to 10 % . executives that make less than $ 25 , 000 a year will not be affected by these price cuts . southern has already cancelled loans on 40 aircraft and they plan to reduce its fleet by at least 80 more . they intended to limit its capacity by 15 to 20 percent and increase national capacity by 25 percent .
European Airlines are cutting jobs.