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New York CNN —Consumers may be fed up with high prices at the store, but they’re still willing to splurge on travel. Other key players in the travel industry have reported a similar trend this earnings season. Americans, especially lower-income consumers, have pulled back spending at retailers as goods inflation outpaces wage growth. They’ve even become frugal with some experience-based spending like dining out, opting instead to eat at home. “We saw a healthy but more normalized market environment for travel globally,” CEO Peter Kern told analysts on May 2.
Persons: they’re, , Hugh Johnston, it’s, Ed Bastian, Kathleen Oberg, , Peter Kern, ” FTX, FTX, Sam Bankman, Fried, Olesya Dmitracova, Read, Tesla, Anna Cooban, André, Elon Musk’s Organizations: CNN Business, Bell, New York CNN, Delta Air, ” United Airlines, Marriott International, Marriott, Disney, Expedia Group, Alameda Research, CNN, RTL Locations: New York, Hong Kong, California, Florida, Alameda, Berlin, Germany, Europe
Delta Air Lines jets are seen on a taxiway at Hartsfield-Jackson Atlanta International Airport in Atlanta on Dec. 22, 2021. Delta Air Lines said it is raising staff pay by another 5% this year as the country's most profitable airline prepares for the busy summer travel season. The pay increase, which starts June 1, applies to workers including flight attendants, ground handlers, mechanics and some office workers, among others. Delta raised staff pay by 5% last year and the pay hike unveiled Monday is the third the Atlanta-based carrier has announced since 2022. With the new raises, starting pay at Delta's mainline operation in the U.S. will rise to $19 an hour from $16.55.
Persons: Delta, Ed Bastian Organizations: Delta Air Lines, Jackson Atlanta International Airport, Association of Flight, CWA Locations: Hartsfield, Atlanta, U.S
While the aviation industry has been in the spotlight lately for a host of safety issues, airline executives say there is no sign of slowing demand for flights. United Airlines "as an airline and as an industry" will carry record numbers of travelers this summer, the carrier's Chief Commercial Officer Andrew Nocella said on an earnings call Wednesday. "Demand continues to be strong, and we see a record spring and summer travel season with our 11 highest sales days in our history all occurring this calendar year," Delta Air Lines CEO Ed Bastian said on his company's call a week earlier. Customers appear willing to pay up for first class and other cabins above standard coach, executives said. Some of those carriers have struggled in recent months because of higher capacity, limited airplane availability and higher costs.
Persons: Andrew Nocella, Ed Bastian, Nocella Organizations: United Airlines, Air, American Airlines, Southwest Airlines, Boeing, Federal Aviation Administration, . Airlines Locations: Delta, United
Morgan Stanley raises Nvidia price target to $1,000 per share from $795. Goldman Sachs' semiconductor readthroughs from Google's conference: Arm positive, Nvidia mild positive, Advanced Micro Devices mild negative, Intel mild negative. Barclays raises Club name Ford price target to $16 per share from $15. Other price target raises on Club names on Wall Street: Danaher , DuPont and Wynn Resorts . As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
Persons: Dow, Thomas Kurian, Morgan Stanley, Goldman Sachs, Jefferies, Ed Bastian, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Core CPI, Taiwan Semiconductor Manufacturing Company, Nvidia, Google, Club, Broadcom, Gaudi, Barclays, Ford, DuPont, Wynn Resorts, Jim Cramer's Charitable, CNBC Locations: Fitch, China
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO Ed Bastian on Q1 EPS beat: There's more opportunity aheadCNBC’s Phil LeBeau and Delta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the airline's quarterly earnings results, business travel demand, state of aviation safety, Boeing's quality concerns, international travel demand, and more.
Persons: Ed Bastian, Phil LeBeau Organizations: Air, Delta Air
Delta's adjusted earnings of $288 million, or 45 cents a share, rose from $163 million, or 25 cents a share in the first quarter of 2023. Here's how the company performed in the three months ended March 31, compared to Wall Street expectations based on consensus estimates from LSEG:Adjusted earnings per share: 45 cents vs. 36 cents expected. 45 cents vs. 36 cents expected. Adjusted revenue: $12.56 billion vs. $12.59 billion expected. Delta forecast second-quarter earnings of $2.20 to $2.50 per share, while analysts forecast between $2.23 per share on average, according to LSEG.
Persons: Ed Bastian, Bastian, Delta, Dan Janki Organizations: Airbus, Delta Air Lines, Toulouse Blagnac, Delta, LSEG, Corporate, CNBC Locations: Toulouse, Atlanta, France, LSEG, Delta
New York CNN —Delta Air Lines reported vastly improved earnings in the first quarter, and the company said results should remain strong the rest of the year. Delta predicted it would report record revenue in the second quarter, it said it expects thinner profit margins. So it now expects earnings per share of between $2.20 to $2.50, which would be down from the record adjusted earnings per share of $2.64 a year ago. Delta has no 737 Max jets in its fleet currently, although it has placed orders for some of the jets. In July 2022 it placed an order for 100 of the Boeing 737 Max 10 jets, the largest version of the Max.
Persons: Ed Bastian, Max, , Scott Kirby, Bastian didn’t, Organizations: New, New York CNN — Delta Air Lines, Wall, Delta, Boeing, United Airlines ’, Southwest, Airbus, Alaska Airlines, Max, Federal Aviation Administration, Alaska Air, United Airlines Locations: New York, Atlanta, Alaska
Nvidia — Stock in the chipmaker slipped less than 1% before the opening bell, but the artificial intelligence play and "Magnificent Seven" leader officially entered correction territory on Tuesday. Shares have fallen 10% from an all-time closing high of $950 per share on March 25. Alibaba Group — The China-based e-commerce stock rose nearly 3% on media reports that co-founder Jack Ma touted the company's management in an internal memo to employees. GoodRx — Shares climbed nearly 4% after KeyBanc upgraded the telemedicine stock to overweight on the heels of a strong subscriber growth forecast. Deckers Outdoor — Shares slipped more than 2% after Truist downgraded the footwear stock to hold over concerns that demand for core products including Hoka is declining.
Persons: Jack Ma, Truist, Ed Bastian, , Sarah Min, Tanaya Macheel Organizations: Nvidia —, Alibaba, Albemarle —, Bank of America, KeyBanc, Delta Air Lines, CNBC Taiwan Semiconductor Manufacturing Locations: China
Delta Air Lines : Delta on Wednesday reported better-than-expected first quarter results and issued second-quarter guidance that shows that demand for travel is still strong. "Here's the two things you can do: If you know Nvidia you can say, 'Oh, well that's wrong.' If you don't know Nvidia, you would say, 'Oh my god, what do I do?' Cava Group : Analysts at Argus upgraded the Mediterranean restaurant chain's stock to a buy rating from hold after a period of weakness. Albemarle : Bank of America upgraded shares of the lithium producer to buy from neutral, arguing prices of lithium have bottomed.
Persons: Jim Cramer's, Ed Bastian, Jim Cramer, Cramer, Jack Ma Organizations: CNBC, Club, Delta Air Lines, Delta, Taiwan Semiconductor Manufacturing Company, Nvidia, Argus, Bank of America Locations: Taiwan, Albemarle
Boeing's 737 Max 10 and Max 7 jets are yet to be certified by regulators. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The 737 Max 10 and Max 7, the longest and shortest version of Boeing's narrowbody jet, are yet to be certified by regulators. The airline's chief financial officer, Mike Leskinen, said last month United is "deeply disappointed" in Boeing due to the delays. Last month, Southwest announced it will suspend all new pilot hiring after March 31 due to the production delays, Simple Flying reported.
Persons: Max, , Scott Kirby, he'd, Mike Leskinen, Leskinen, Ed Bastian, Bob Jordan, Max — Organizations: United Airlines, Boeing, Service, Alaska Airlines, Bloomberg, Airbus, Reuters, United, JPMorgan, Delta, Southwest, Federal Aviation Administration
Executives from several US carriers have expressed doubt about the Boeing 737 Max delivery schedule. Southwest expects 42% fewer jets this year, while United told Boeing to stop making the Max 10. AdvertisementCustomers may soon feel the impact of the Boeing 737 Max blowout as airlines face uncertainty about their future fleets. The airline also said it doesn't expect to receive any of the yet-to-be-certified Max 7s this year and removed them from its 2024 plan. Airlines may look to Airbus to grow their fleetsThe Airbus A320neo competes with the Boeing 737 Max.
Persons: , Max, Scott Kirby, Ed Bastian, Bastian, Richard Aboulafia, Michael O'Leary, Henry Harteveldt, Harteveldt, Kirby Organizations: Boeing, Max, Southwest, United, Service, Alaska Airlines, Delta Air Lines, Southwest Airlines, United Airlines, Bloomberg, JPMorgan, Delta Air, Ryanair, Airbus —, Airbus, Frontier Airlines, Spirit Airlines, Reuters Locations: Alaska, Delta
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO Ed Bastian on FY guidance: We're seeing demand continuing with great strengthDelta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the airline's guidance for the full year and March quarter, travel demand outlook, impact of Boeing's quality control issues, and more.
Persons: Ed Bastian Organizations: Air, Delta Air
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO Ed Bastian on $1.4B profit sharing, travel demand outlookCNBC’s Phil LeBeau and Delta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the company's $1.4 billion profit sharing payout, travel demand outlook, Boeing's 737 Max-10 delivery timeline, and more.
Persons: Ed Bastian, Phil LeBeau, Max Organizations: Air, Delta Air
Russia has lost over 3,000 tanks since it invaded Ukraine, says the IISS. The think tank said that Russia's battlefield tank losses have exceeded what it had before the war. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementRussia has lost more tanks than it had before it invaded Ukraine, the International Institute for Strategic Studies (IISS) said on Tuesday. The London-based think tank offered its assessment when it launched its annual "The Military Balance" report on the same day.
Persons: , Bastian Giegerich Organizations: Service, International Institute for Strategic Studies, Business Locations: Russia, Ukraine, North Korea, Iran, London
While this has meant trading “quality for quantity,” Russia has also been able to manufacture new vehicles. The authors concluded Russia could sustain its current rate of attrition for up to three years and maybe longer. Total military spending now represents one third of its national budget and will reach about 7.5% of GDP, signaling the focus on its war effort,” Giegerich said. Alexander Ermochenko/ReutersThe Royal United Services Institute (RUSI), another think tank, published its own report this week on Russia’s shifting military objectives and capacity. The report said Russia will seek to achieve its objective in three stages.
Persons: ” “, Mike Johnson, ” Bastian Giegerich, , Ukraine’s, ” Giegerich, Alexander Ermochenko, Kyiv “ Organizations: CNN, Ukraine “, Institute for Strategic Studies, West, United States Senate, NATO, European, Pentagon, , Reuters, Royal United Services Institute, Russian, Services, Kyiv Locations: Russia, Ukraine, Ukraine’s, “ Russia, Olenivka, Donetsk region, Ukrainian,
Airfare fell 6.4% in January from a year earlier, the Labor Department said in its monthly consumer price index report on Tuesday. January is typically a slower month for travel as customers take fewer trips following the New Year's holiday. The drop comes even though carriers are facing capacity constraints this year, in part because of an engine recall from Pratt & Whitney , congested airspace and delayed aircraft deliveries. In 2023, airlines had been forced to discount flights, particularly in off-peak periods, after the industry added capacity. ...Those operating environment challenges led directly to industry capacity plans, including our own, coming down 3 points on average as carriers adapted to the new operating environment," Kirby said.
Persons: Airfare, TD Cowen, Helane Becker, Hopper, Ed Bastian, haven't, Bastian, Max, Scott Kirby, Kirby Organizations: Labor Department, Pratt & Whitney, Airlines, Delta, Boeing, Max, Federal Aviation Administration, Company, United Airlines, International Air Transport Association, CNBC PRO Locations: Southwest, Alaska, United
United Airlines is weighing fleet plans without the Boeing 737 Max 10 after a series of delays and most recently, the grounding of a smaller variant of the plane, the carrier's CEO said Tuesday. The Max 10 is the largest model of the plane and hasn't yet been certified by the Federal Aviation Administration. United has 79 of the 737 Max 9 aircraft in its fleet, more than any other carrier. "We're going to at least build a plan that doesn't have the Max 10 in it." Last week, Delta Air Lines CEO Ed Bastian told CNBC last week that he is confident moving forward with his airline's order of Boeing Max 10s.
Persons: Scott Kirby, Kirby, CNBC's, Max, Ed Bastian, Boeing Max, Boeing didn't Organizations: Airlines, Boeing, Max, Federal Aviation Administration, United, Alaska Airlines, FAA, Delta Air, CNBC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDelta Air Lines CEO Ed Bastian on Amex partnership, business travel and 2024 outlookDelta Air Lines CEO Ed Bastian joins 'Squawk Box' to discuss the airline's partnership with American Express, the state of air travel, business travel, 2024 outlook, Boeing's quality control issues, and more.
Persons: Ed Bastian Organizations: Air, Delta Air, American Express
Delta Air Lines expects to move forward with an order of Boeing 737 Max 10 aircraft as the plane manufacturer struggles with issues surrounding the Max 9, the carrier's CEO told CNBC on Friday. The airline ordered 100 Max 10s in 2022 and deliveries are expected to begin in 2025, its first Boeing order in more than a decade. The Max 10, the largest model of the 737 Max, has not yet been approved by regulators. The 737 Max, Boeing's best-selling aircraft, has had a troubled history since deliveries first began in 2017. Delta flies over 500 Boeing jets a day, but does not fly either the Max or the 787, according to Bastian.
Persons: Max, Ed Bastian, CNBC's Scott Wapner, Boeing's, Bastian Organizations: Delta Air Lines, Boeing, Max, CNBC, FAA, Alaska Airlines, Airbus Locations: United States, Indonesia, Ethiopia, Bastian, Alaska, United
New York CNN —It’s been a tough month for shares of airline companies. Here’s why investors are getting out of airline stocks. Boeing’s “can of worms”: Boeing’s problems began on Jan. 5, when the door plug on an Alaska Airlines Boeing 737 Max 9 detached mid-flight. Oil prices are volatile: Investors are also concerned about a possible spike in oil prices. United Airlines Holdings shares have declined 8% so far in January and American Airlines Group shares have fallen 6%.
Persons: New York CNN — It’s, Wells, , Max, JetBlue’s, Patrick T, Fallon, Brent, Ed Bastian, Antony Blinken, CNN’s Jennifer Hansler, Bryan Mena, Read Organizations: CNN Business, Bell, New York CNN, NYSE, Alaska Airlines Boeing, Max, Boeing, Alaska Airlines, US Federal Aviation Administration, National Transportation Safety, FAA, , Spirit Airlines, JetBlue, Spirit, CNN . Spirit Airlines Airbus, JetBlue Airlines Airbus, Los Angeles International Airport, Getty, US Justice Department, Hawaiian Airlines, Hawaiian Holdings, US, . West Texas, Delta Air Lines, Delta, United Airlines Holdings, American Airlines Group, Blinken’s Boeing, Commerce Department Locations: New York, Washington, Boston, AFP, Iran, Yemen, Davos, Zurich, deplane
Airline stocks tumble after Delta trims profit forecast
  + stars: | 2024-01-12 | by ( Ryan Anastasio | ) www.cnbc.com   time to read: +1 min
Delta Air Lines shares slipped about 9% Friday after the company trimmed its 2024 earnings forecast. Delta forecast full-year earnings per share of $6 to $7, below its previous estimate of more than $7 per share for 2024. Other major airlines including United , American and Southwest also fell on the new estimate, released alongside quarterly earnings. Delta finished 2023 by doubling its quarterly profit as bookings, both for corporate and leisure travel, continued to pick up from the Covid-19 pandemic lows. Delta CEO Ed Bastian said in a CNBC interview that the airline has recovered almost 90% of its travel demand from its pre-pandemic numbers.
Persons: Ed Bastian, Bastian Organizations: Delta Air Lines, United, Delta, CNBC, CNBC PRO Locations: Southwest, American
Delta Air Lines closed out the year by doubling its quarterly profit as travel demand, particularly for international trips, helped drive record revenue in 2023. Delta on Friday forecast adjusted earnings per share of between $6 and $7 for 2024, below the more than $7 a share the carrier predicted last year. Delta posted adjusted earnings of $6.25 a share in 2023. Stripping out one-time items, Delta posted adjusted revenue of $13.66 billion, slightly ahead of LSEG estimates. Adjusted earnings per share of $1.28 topped analysts' estimates for $1.17 a share in the fourth quarter.
Persons: Ed Bastian, Bastian, Delta, Glen Hauenstein, haven't, Hauenstein, Max Organizations: Delta Air Lines, Delta, CNBC, Airlines, LSEG, Aircraft, Boeing, Alaska Airlines, Federal Aviation Administration, United Airlines, FAA, Airbus, CNBC PRO Locations: U.S, Detroit, Los Angeles, Seattle, Alaska
Some counties in Wisconsin have been using cheese brine or a beet juice blend instead. A few counties across the state have used cheese brine to melt icy roads in the winter. Green County is lucky enough to have a functioning cheese factory where it gets its cheese brine for de-icing. Other counties, like Polk County and Burnett County, have used cheese brine in the past but stopped when the local cheese factory halted operations. Bastian Parschau/Contributor/Getty ImagesIf you don't have access to cheese brine, then beet juice is a popular alternative, though it's not as cost-effective as cheese brine, Josh Kelch, the highway commissioner for Burnett County, told BI.
Persons: , Andrea Bill, Bill, There's, Chris Narveson, Bastian Parschau, it's, Josh Kelch, Pat Gavinski, Gavinski Organizations: Service, University of Wisconsin's Traffic, Safety Laboratory, Anadolu, US Environmental Protection Agency, University of Minnesota, EPA, Green County Locations: Wisconsin, Green, Polk County, Burnett, Burnett County, Sauk, Sauk County
For a few hundred years, money poured in from the church, which was eager to expand its influence in the Dodecanese, this group of islands so close to Turkey that on a map it looks like a jeweled choker wrapped around the country’s southwestern coast. Pilgrims seeking either enlightenment or refuge — from the fall of Constantinople, the waning influence of Crete — soon settled this island’s Chora (“town” in Greek) in the shadow of the monastery. Patmos continued to grow into the modern era as a locus of cross-cultural currents and commerce: Prosperity and geography made it ideal for seafaring, as boats brought back wooden furniture from Venice and crafts from Istanbul and Cairo. By the 15th century, both immigrants and rich merchants were building the small churches and blocky mansions that still crowd Chora’s narrow, steep pathways. Although throughout history various interlopers — pirates, Ottoman expansionists and Nazis among them — have claimed this territory as their own, Patmos has belonged to Greece since the late 1940s.
Persons: Crete —, Patmos, Ottoman expansionists, Locations: Turkey, Constantinople, Crete, , Venice, Istanbul, Cairo, Ottoman, Greece
NHL roundup: Senators edge Wings in OT in Sweden
  + stars: | 2023-11-17 | by ( ) www.reuters.com   time to read: +6 min
Lucas Raymond, Daniel Perron, Alex DeBrincat and Shayne Gostisbehere scored four straight goals in the second period for the Red Wings. Adin Hill finished with 23 saves for Vegas, which extended its winning streak against Montreal to six games. Lukas Reichel and Corey Perry scored goals for Chicago, which took its third loss in four games. Bryan Rust scored twice for the Penguins, who had their five-game winning streak snapped. Givani Smith and Luke Kunin each had a goal and an assist for the Sharks, who snapped the Blues' three-game winning streak.
Persons: Tim Stutzle, Nikita Zadorov, Marc DesRosiers, Drake Batherson, Stutzle, James Reimer, Brady Tkachuk, Jake Sanderson, Josh Norris, Joonas Korpisalo, Lucas Raymond, Daniel Perron, Alex DeBrincat, Shayne Gostisbehere, Gostisbehere, Reimer, Mark Stone, Shea Theodore, Jack Eichel, Jonathan Marchessault, Brett Howden, Brayden McNabb, Adin Hill, Jesse Ylonen, Alex Newhook, Johnathan Kovacevic, Justin Barron, Nick Suzuki, Mike Matheson, Cayden Primeau, Victor Hedman, Chicago . Former Blackhawk Brandon Hagel, Hedman, Mikhail Sergachev, Lukas Reichel, Corey Perry, Elias Lindholm, Jonathan Huberdeau, MacKenzie Weegar, Dillon Dube, Noah Hanifin, Jacob Markstrom, Blake Coleman, Elias Pettersson, Nils Hoglander, Casey DeSmith, Kevin Fiala, Anze Kopitar, Cam Talbot, Sam Reinhart, Sergei Bobrovsky, Kailer Yamamoto, Matty Beniers, Alex Wennberg, Philipp Grubauer, Anders Lee, Casey Cizikas, Noah Dobson, Semyon Varlamov, Lawson Crouse, Barrett Hayton, Logan Cooley, Connor Ingram, Damon Severson, Elvis Merzlikins, Curtis Lazar, Jesper Bratt, Nathan Bastian, Alexander Holtz, Tyler Toffoli, Erik Haula, Luke Hughes, Vitek Vanecek, Bryan Rust, Tristan Jarry, Mike Hoffman, Jose, Louis, Givani Smith, Luke Kunin, William Eklund, Kaapo Kahkonen, Pavel Buchnevich, Joel Hofer, Jordan Binnington Organizations: CAN, Ottawa Senators, Calgary Flames, Canadian Tire Centre, Detroit Red Wings, NHL Global, Sweden, Wings, Ottawa, Red Wings, Golden Knights, Canadiens, Vegas, Montreal, Blackhawks, Tampa Bay, Chicago . Former Blackhawk, Tampa, Chicago, Flames, Canucks, Calgary, Vancouver, Western Conference, Panthers, Islanders, Seattle, New, Coyotes, Blue Jackets, Columbus, Penguins, Pittsburgh, Devils, . New, Sharks, Blues, San, Thomson Locations: Ottawa , Ontario, Stockholm, Angeles, Florida, Los Angeles, New York, Arizona, New Jersey, ., . New Jersey, San Jose
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