US airlines to cut capacity

DALLAS: Major US airlines have outlined plans to slow their growth and cut costs to deal with higher fuel prices and the prospect of an economic slowdown that could hurt air travel.

Executives for some carriers also said they are actively planning for airline mergers, although they were careful not to discuss specific combinations. “We are not standing around waiting for consolidation to happen. We’re interested in that,” said Jake Brace, CFO of United Airlines.

“We are concerned about growing evidence of slowing economic growth that would inevitably affect passenger demand,” said Southwest Airlines CEO Gary C Kelly.