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There's no question airlines are hurting right now. The price of jet fuel has shot up more than 80 percent since 2007, and carriers are now charging for services that were once included in the ticket price.

But did you know that airlines are actually cutting back on fuel to save money? IEEE Spectrum blogger Tekla Perry found that out the hard way when his Continental flight to Newark, New Jersey, had to make an emergency pit stop at Stewart Air National Guard Base in Newburgh, New York.

It so happens that Continental has made more "minimum fuel declarations" than any other airline, meaning that its pilots have more often notified air traffic controllers that they may need to land in a hurry. Perry cites a remarkably unsubtle October memo sent from management to pilots that reads, "[A]dding fuel indiscriminately without critical thinking ultimately reduces profit sharing and possibly pension funding." Perhaps a little more critical thinking is needed in the board room?