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Squawk Pod

Squawk Pod Reports: United Airlines’ Scott Kirby

Squawk Pod

CNBC

Business News, Investing, Business, News

4494 Ratings

🗓️ 9 December 2022

⏱️ 10 minutes

🧾️ Download transcript

Summary

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are in Washington, D.C. for the annual Business Roundtable meeting, speaking with United Airlines CEO Scott Kirby. In a conversation exclusive to CNBC, Kirby breaks down his expectations for travel amid the possibility of an economic slowdown. Kirby also weighs in on contract negotiations with labor unions and more. In this episode: Scott Kirby, @united Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0

During the pandemic you couldn't travel you can go to restaurants couldn't get your

0:06.4

haircut. You spent all the money on home refurbishings and online and those businesses

0:10.7

are now coming back to the normal trend and the services are coming back up.

0:14.2

So we're probably in the eighth inning, but we're still in the COVID recovery.

0:17.0

United CEO Scott Kirby on the COVID-19 scars to an airline industry fighting back for consumer dollars.

0:23.0

Hybrid work makes every weekend a holiday.

0:25.0

What we see is people that always had plenty of disposable income to travel

0:29.0

now have the freedom from a time perspective and they're the ones that are traveling more.

0:33.2

Is travel set for take-off or are the fears of a looming recession causing turbulence?

0:38.2

If I didn't watch C and B.C. in the morning, which I do, the word recession wouldn't be in my vocabulary.

0:42.2

Just looking at our data. You just can't see it at our data. I'm C, and we're just can't see it in our data.

0:45.0

I'm C. NBC producer Katie Kramer.

0:47.0

Squack-Pod Reports, United Scott Kirby begins right now. For the past several years of the COVID-19 pandemic, most Americans put their plans to travel for work, for fun, to see family and friends

1:06.2

on hold. Previously busy airports were quiet and the World's Airlines lost $137 billion in 2020.

1:14.2

For three years, 2020, 21, and 22,

1:17.6

the global airline industry did not make a profit.

1:21.3

Showing off misery, huh? Yeah.

1:24.0

It's not too bad right now, though.

1:26.4

But things may be starting to look up.

1:28.8

Almost 2 million people passed through U.S. airport checkpoints on the critical Wednesday before Thanksgiving.

1:34.4

That's just shy of the number 2.6 million in the before times of 2019.

1:39.0

United is one of the largest carriers in the US. The 14 billion dollar

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