Lufthansa cuts U.S. routes, silent on profits

FRANKFURT >> Lufthansa AG said today it was cutting three of its transatlantic routes during the winter schedule, but declined to comment on a report 2001 operating profit would come in below 500 million euros ($463.4 million).

The German flagship carrier said it was cutting its high-profile service between Berlin and Washington D.C. beginning tomorrow.

A Frankfurt-New York route will be cut from Wednesday and a Frankfurt-Washington route will be dropped from Friday.

"Since the terror attacks we have had less demand for bookings and we expect lower demand in the future," a Lufthansa spokeswoman said.

Virgin to cut 1,200 jobs after U.S. attacks

LONDON >> Virgin Atlantic Airways today joined U.S. rivals in cutting flights and jobs in the wake of the terror attacks in the United States, but said it was confident it could ride out the airline industry slump.

Chairman Richard Branson said the airline had overcome similar hardships of tumbling passenger demand for transatlantic flights a decade ago during and after the Gulf War.

"I think that as long as we are prudent and we have enough cash to see us through the winter months and into next year, hopefully we can come out the stronger for it," Branson told Sky News television. "It is very similar situation to the Gulf War."

Virgin Atlantic, of which Branson's unlisted Virgin Group owns 51 percent and Singapore Airlines Ltd 49 percent, said it would cut 1,200 jobs, ground five Boeing 747-200 aircraft and scrap a fifth of its transatlantic flights.

Buffett says he will keep all of his stocks

WASHINGTON >> Billionaire investor Warren Buffett said yesterday he will not sell any of his stocks when the market reopens today, and in fact if the markets fall significantly, he may use it as a buying opportunity.

The New York Stock Exchange is due to open after four days of closure brought about by last Tuesday's air attacks that leveled New York's World Trade Center and heavily damaged the Pentagon building outside Washington, D.C.

"I won't be selling anything," Buffett told the CBS program "60 Minutes."

[Taking Notice]

NEW JOBS

>> Elizabeth Kent has been named deputy director of the state Department of Human Services. Kent, who is on a two-year leave of absence as the director of the Alternative Dispute Resolution program at the state Judiciary, will be responsible for working with the department's director to provide quality services and assistance to Hawaii residents.

>> Terry Dowsett has been named director of operations at Mauna Lani Point and The Islands at Mauna Lani by Classic Resorts. He will be responsible for overall management and staffing at the company's Big Island properties.

>> Communications-Pacific Inc. has named Michael Lindenberger senior account executive at the communications and marketing company. He was self-employed as a public relations consultant before joining Communications-Pacific.

>> Albert Swierzy has been named director of network system performance for Verizon Wireless Hawaii. He will lead the team in executing a $25 million investment plan this year.