Virgin Blue watered down speculation that 400 employees will lose their jobs but announced a capacity cut flagging an end to some of the heavily discounted airfares being seen in the region. The airline plans to reduce capacity by 8% over the next 12 months by withdrawing five of its 76 aircraft from service. A spokesperson told ATWOnline that "some of the 400 staff affected" will be transferred to its new long-haul airline V Australia. Like many carriers, Blue also is looking at options ...

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