Continental Airlines Inc. announced its decision to reduce its fleet by 18 percent, grounding 67 jets. The rather extreme measure is caused by the airline industry’s current crisis and will lead to a cut of 3,000 jobs from the company’s personnel.

Chief Executive Officer Larry Keller and President Jeff Smisek explained to their employees that the severe crisis they are facing has led to the decision and the actions are absolutely necessary in order to secure the company’s future.

"These actions are among many steps Continental is taking to respond to record-high fuel prices as the industry faces its worst crisis since 9/11," the company said, according to BBC News.

The reference to the 9/11 event was aimed as a reminder of that period, when flying became the most unpopular traveling option and caused major losses for all U.S. airline companies.

The company’s officials announced that before dismissing the employees they will await volunteers willing to give up their jobs. The 3,000 soon to be dismissed workers represent 6.6 percent of the company’s workforce.

The problem is that just as the general public began to have faith again in the airline companies and the business seemed to get back on course, the prices scared away a large number of customers, leading to today’s sad and worrying situation.

Continental Airlines is the fourth largest Unites States airline with a jet fleet of 375 aircrafts.

In a much similar turn of events, United Airlines, which is the second largest U.S. airline, announced yesterday its decision to permanently shut down its low-cost Ted brand, retiring 70 planes. Another company struggling with the soaring fuel prices is Delta Air Lines Inc. also extremely affected by last year’s 71 percent rise in fuel prices.