The United Airlines Buyback: A “Big Mistake”? 10/16/24

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 16 October 2024

⏱️ 31 minutes

🔗️ Recording | iTunes | RSS

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Summary

United Airlines has announced a $1.5B share buyback program, its first since before the pandemic. The plan has inflamed an already contentious relationship between the airline and its flight attendants, who have been pushing for a new contract. The Association of Flight Attendants International President Sara Nelson calls the buyback a “big mistake” and argues that some of that money belongs to the airline’s workers. United CEO Scott Kirby responds to Nelson’s comments, insisting that flight attendants will get an “industry-leading” contract. Plus, Qualcomm might wait until after the election to decide whether to buy Intel and Tom Brady will soon be a part owner of the Las Vegas Raiders. Sara Nelson - 15:19 Scott Kirby - 24:02 In this episode: Sara Nelson, @FlyingWithSara Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm C. NBC producer Katie Kramer, today on Squack Pod.
0:09.0	United Airlines has announced its first share buyback since before the
0:13.4	pandemic one and a half billion dollars but flight attendance union
0:16.8	president Sarah Nelson says some of that money belongs to her colleagues.
0:20.8	As the airline is making more money there should be more to share with the United
0:24.8	Flight Attendants.
0:25.8	Plus, United CEO Scott Kirby on the contract negotiations driving a wedge between
0:30.9	the airline and its staff.
0:32.8	They deserve and they are going to get an industry leading contract.
0:37.1	And Qualcomm reportedly waiting until after the U.S. election to pursue an intel acquisition.
0:42.1	It's possible that this deal actually has a better election to pursue an intel acquisition.
0:42.6	It's possible that this deal actually has a better chance
0:45.3	in a Harris administration, oddly enough to me.
0:48.4	Really?
0:49.4	Because yes.
0:50.4	Those stories, plus Tom Brady, your newest NFL owner, and Donald Trump talks the economy.
0:56.0	Serenity now.
0:58.0	It's Wednesday, October 16, 2024.
1:01.0	Squawk Pod begins right now.
1:04.2	Stand Becky by in three, two, one,
1:07.0	queue please.
	...

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